The Treasury Department Wednesday auctioned $15 billion of two-year floating rate notes with a high discount margin of 0.174%, at a 0.174% spread, a price of 99.999999.
The bid-to-cover ratio was 3.82.
Tenders at the high margin were allotted 80.41%.
The median discount margin was 0.165%. The low discount margin was 0.130%.
Tenders totaled $57,313,717,700 and the Treasury accepted $15,000,122,700, including $6,922,700 non-competitive.
The Fed banks bought $1,047,508,900 for their own account.
The notes are dated July 31 and due July 31, 2018.
The index determination date is June 20 and the index determination rate is 0.270%.