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

The coupon equivalent was 0.005%. The bid-to-cover ratio was 4.49.

Tenders at the high rate were allotted 79.84%. The median yield was zero. The low yield was zero.

The bills have an issue date of July 21 and are due Aug. 18.

Tenders totaled $125,839,830,000 and the Treasury accepted $28,000,265,300, including $175,850,400 of noncompetitive.

Federal Reserve banks bought $2,418,028,000 for their own account in exchange for maturing securities.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.