NEW YORK, Jan 2 (Reuters) - The U.S. Treasury Department on Tuesday sold a record $48 billion of three-month bills at an interest rate of 1.435 percent, which was not far below the highest since Sept. 2008 set the previous week, Treasury data showed.
The ratio of bids to the amount of three-month T-bills offered was 3.08, the highest in a month. This gauge of overall auction demand was 2.71 at the previous three-month bill sale last week.It also auctioned a record high amount of six-month T-bills at an interest rate of 1.575 percent, which was the highest interest rate at an auction of this bill maturity since 1.800 percent on Oct. 20, 2008.The bid-to-cover ratio at the $42 billion six-month bill sale was 3.05, down from 3.61 the prior week and the lowest since Oct. 10.
(Reporting by Richard Leong; Editing by Susan Thomas)
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