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To: pallmer who wrote (4466)	12/31/2002 11:45:04 AM
From: pallmer	Respond to of 29614

-- DJ US Treasury 4-Wk -2: Federal Reserve Bought $2.80 Bln -- WASHINGTON (Dow Jones)--The U.S. Treasury awarded $16.00 billion in four-week bills at Tuesday's auction at a high rate of 1.175%. The Treasury received bids totaling $43.80 billion and accepted $16.00 billion, including $35.92 million of noncompetitive tenders. The dollar price was 99.909 and the investment rate, or bond-equivalent return, was 1.187%. There were no tenders from foreign and international monetary authority accounts. The bid-to-cover ratio, an indication of demand, was 2.74, Treasury said. Tenders submitted at the high yield were allotted 95.97%. The Federal Reserve purchased $2.80 billion in bills for its own account. When the auction was announced, the Fed held $13.87 billion of maturing bills, and in Monday's auction the Fed purchased $11.07 billion in three- and six-month bills. The bills awarded to the Federal Reserve are in addition to the public offering amount. The median rate was 1.170%; that is, 50% of the amount of accepted competitive bids were tendered at or below that rate. (MORE) Dow Jones Newswires 12-31-02 1143ET- - 11 43 AM EST 12-31-02 31-Dec-2002 16:43:00 GMT Source DJ - Dow Jones