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.