Interest rate hits zero on 4-week Treasury bills

updated 3:22 p.m. ET Dec. 9, 2008

WASHINGTON - Interest rates on four-week Treasury bills fell to zero in Tuesday's auction, as investors still sought the safety of government securities without any return on their investment.

The Treasury Department says it sold $32 billion in four-week bills at an interest rate of zero percent. That meant investors were willing to earn no return at all on their money as long as they cold park it in the safety of Treasury securities.

The rate was down from an interest rate of 0.04 percent at last week's government auction of four-week bills.

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