The Treasury Department Wednesday auctioned $15 billion of two-year floating rate notes with a high discount margin of 0.190%, at a 0.190% spread, a price of 99.999997.
The bid-to-cover ratio was 3.57.
Tenders at the high margin were allotted 0.72%.
The median discount margin was 0.170%. The low discount margin was 0.140%.
Tenders totaled $53,513,450,800 and the Treasury accepted $15,000,006,800, including $23,354,800 non-competitive.
The Fed banks bought $3,986,094,600 for their own account in exchange for maturing securities.
The notes are dated April 30 and due April 30, 2018.
The index determination date is April 25 and the index determination rate is 0.250%.
