The Treasury Department today auctioned $35 billion of four-week bills at a zero high yield, a price of par.

The coupon equivalent was zero. The bid-to-cover ratio was 4.91.

Tenders at the high rate were allotted 94.55%. The median yield was zero. The low yield was zero.

The bills have an issue date of Sept. 19 and are due Oct. 17.

Tenders totaled $171,909,010,600 and the Treasury accepted $35,000,073,600, including $238,800,900 non-competitive.

The Fed banks bought nothing for their own account in exchange for maturing securities.

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