The Treasury Department Tuesday auctioned $35 billion of four-week bills at a 0.025% high yield, a price of 99.998056.
The coupon equivalent was 0.025%. The bid-to-cover ratio was 4.08.
Tenders at the high rate were allotted 96.49%. The median rate was 0.020%. The low rate was 0.005%.
The bills have an issue date of July 11 and are due August 8.
Tenders totaled $142,686,398,500 and the Treasury accepted $35,000,333,500, including $238,925,700 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.