Treasury Sells $10B in Reopened 4-Week Bills at 0.005%

The Treasury Department sold $10 billion in 4-week bills  at a yield of 0.005% on Wednesday. The debt, which is a reopening of an issue first sold on Aug. 20, 2009, will mature Feb. 18, 2010.

• Bid To Cover 1.29 times more debt than was being offered

• Primary Dealers  submitted $46.5 bln to take down $5.95 bln

• Indirects – $3.45 bln

• Directs – $6.75 bln

• Alloted at high 2.86% – median rate was 0.000%