The Treasury Department Wednesday auctioned $15 billion of two-year floating rate notes with a high discount margin of 0.053%, at a 0.053% spread, a price of par.
The bid-to-cover ratio was 3.58.
Tenders at the high margin were allotted 10.62%.
The median discount margin was 0.050%. The low discount margin was 0.035%.
Tenders totaled $53,652,923,100 and the Treasury accepted $15,000,191,100, including $18,423,100 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The notes are dated Oct. 31 and due Oct. 31, 2016.