The treasury auctions T-Bills (bonds with 1 year or less to maturity) at a discount and that's how you get the "yield" so technically they don't pay interest.

The treasury auctions T-Bills (bonds with 1 year or less to maturity) at a discount and that's how you get the "yield" so technically they don't pay interest. For example, if you were to buy a 1 year today, you would purchase it for $94.84 and the Treasury would redeem it at maturity for $100. That's you receive the current yield of 5.43%.