The Treasury Department Wednesday auctioned $13 billion of one-year 11-month floating rate notes with a high discount margin of 0.055%, at a 0.070% spread, a price of 100.029221.
The bid-to-cover ratio was 4.38.
Tenders at the high margin were allotted 9.84%.
The median discount margin was 0.052%. The low discount margin was 0.040%.
Tenders totaled $57,001,313,900 and the Treasury accepted $13,000,173,900, including $16,813,900 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The notes are dated July 31 and due July 31, 2016.
