The Treasury Department Wednesday auctioned $13 billion of one-year 11-month floating rate notes with a high discount margin of 0.086%, at a 0.077% spread, a price of 99.982448.
The bid-to-cover ratio was 3.50.
Tenders at the high margin were allotted 28.84%.
The median discount margin was 0.075%. The low discount margin was 0.065%.
Tenders totaled $45,457,845,700 and the Treasury accepted $13,000,085,700, including $2,845,700 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, 2017.