NEW YORK - The Treasury Department Tuesday auctioned $25 billion of four-week bills at a 0.070% high yield, a price of 99.994556.
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The coupon equivalent was 0.071%. The bid-to-cover ratio was 4.08.
Tenders at the high rate were allotted 8.05%. The median yield was 0.050%. The low yield was zero.
The bills have an issue date of December 23 and are due January 20, 2011.
Tenders totaled $101,955,699,700 and the Treasury accepted $25,000,949,700, including $246,451,900 non-competitive.
The Fed banks bought $3,781,546,000 for their own account in exchange for maturing securities.
