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 7.47.
Tenders at the high rate were allotted 16.67%. The median yield was zero. The low yield was zero.
The bills have an issue date of Dec. 15 and are due Jan. 12, 2012.
Tenders totaled $261,438,805,900 and the Treasury accepted $35,014,811,300, including $283,284,900 non-competitive.
The Fed banks bought $5,937,991,000 for their own account in exchange for maturing securities.
