The Treasury Department Wednesday auctioned $36 billion of four-week bills at a 0.165% high yield, a price of 99.987167.

The coupon equivalent was 0.167%.

The bid-to-cover ratio was 3.57. Tenders at the high rate were allotted 88.94%. The median yield was 0.150%. The low yield was 0.130%. The bills have an issue date of July 8 and are due Aug. 5.

Tenders totaled $128,692,200,800 and the Treasury accepted $36,000,442,800, including $267,037,800 of noncompetitive. Federal Reserve banks bought $3,781,546,000 for their own account in exchange for maturing securities.

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