The Treasury Department yesterday auctioned $35 billion of four-week bills at a 0.160% high yield, a price of 99.987556. The coupon equivalent was 0.162%. The bid-to-cover ratio was 3.06.

Tenders at the high rate were allotted 47.45%. The median yield was 0.145%. The low yield was 0.060%.

The bills have an issue date of July 2 and are due July 30.

Tenders totaled $106,860,548,000 and the Treasury accepted $34,696,473,000, including $303,984,400 of noncompetitive.

Federal Reserve banks bought $5,937,991,000 for their own account in exchange for maturing securities.

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