The Treasury Department Tuesday auctioned $35 billion of four-week bills at a 0.035% high yield, a price of 99.997278.

The coupon equivalent was 0.036%. The bid-to-cover ratio was 4.27. Tenders at the high rate were allotted 29.38%. The median yield was 0.025%. The low yield was zero.

Tenders totaled $149,320,359,100 and the Treasury accepted $35,000,531,100, including $254,211,300 non-competitive.

Federal Reserve banks bought $6,285,071,700.

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