The Treasury Department Wednesday auctioned $15 billion of two-year floating rate notes with a high discount margin of 0.084%, at a 0.084% spread, a price of par.
The bid-to-cover ratio was 3.72.
Tenders at the high margin were allotted 14.18%.
The median discount margin was 0.080%. The low discount margin was 0.060%.
Tenders totaled $55,865,680,800 and the Treasury accepted $15,000,260,800, including $11,030,800 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The notes are dated Jan. 31 and due Jan. 31, 2017.
