The Treasury Department Tuesday auctioned $28 billion of four-week bills at a 0.005% high yield and a price of 99.999611. The coupon equivalent was 0.005%.

The bid-to-cover ratio was 4.44. Tenders at the high rate were allotted 31.78%. The median yield and low yield was zero. The bills have an issue date of June 23 and are due July 21.

Tenders totaled $124,410,861,100 and the Treasury accepted $28,000,791,100, including $226,318,500 of noncompetitive. Federal Reserve banks bought $2,418,028,000 for their own account in exchange for maturing securities.

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