The Treasury Department Wednesday auctioned $13 billion of two-year floating rate notes with a high discount margin of 0.165%, at a 0.174% spread, a price of 100.017478.
The bid-to-cover ratio was 3.46.
Tenders at the high margin were allotted 99.12%.
The median discount margin was 0.157%. The low discount margin was 0.130%.
Tenders totaled $44,930,771,400 and the Treasury accepted $13,000,051,400, including $5,771,400 non-competitive.
The Fed banks bought none for their own account.
The notes are dated Aug. 26 and due July 31, 2018.
The index determination date is Aug. 22 and the index determination rate is 0.310%.
