NEW YORK - The Treasury Department today auctioned $35 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 4.77.
Tenders at the high rate were allotted 16.18%. The median yield was zero. The low yield was zero.
The bills have an issue date of Dec. 8 and are due Jan. 5, 2012.
Tenders totaled $268,248,479,500 and the Treasury accepted $35,005,749,300, including $238,689,700 non-competitive.
The Fed banks bought $2,418,028,000 for their own account in exchange for maturing securities.
