NEW YORK - The Treasury Department today auctioned $28 billion of four-week bills at a 0.005% high yield, a price of 99.999611.
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The coupon equivalent was 0.005%. The bid-to-cover ratio was 4.08.
Tenders at the high rate were allotted 65.60%. The median yield was zero. The low yield was zero.
The bills have an issue date of Dec. 24 and are due Jan. 21, 2010.
Tenders totaled $114,249,238,300 and the Treasury accepted $28,000,638,300, including $231,985,300 non-competitive.
The Fed banks bought $3,781,546,000 for their own account in exchange for maturing securities.
