The Treasury Department Tuesday auctioned $30 billion of four-week bills at a 0.015% high yield, a price of 99.998875.

The coupon equivalent was 0.015%. The bid-to-cover ratio was 4.09.

Tenders at the high rate were allotted 95.74%. The median rate was 0.005%. The low rate was zero.

The bills have an issue date of July 5 and are due August 1.

Tenders totaled $122,706,412,200 and the Treasury accepted $30,000,268,200, including $223,188,200 non-competitive.

The Fed banks bought nothing for their own account in exchange for maturing securities.

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