NEW YORK - The Treasury Department today auctioned $28 billion of four-week bills at a zero high yield, a price of par.
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The coupon equivalent was zero. The bid-to-cover ratio was 4.33.
Tenders at the high rate were allotted 56.12%. The median yield was zero. The low yield was zero.
The bills have an issue date of Dec. 17 and are due Jan. 14, 2010.
Tenders totaled $121,365,120,300 and the Treasury accepted $28,002,266,600, including $271,141,300 non-competitive.
The Fed banks bought $5,937,991,000 for their own account in exchange for maturing securities.
