The Treasury Department Wednesday auctioned $15 billion of two-year floating rate notes with a high discount margin of 0.070%, at a 0.070% spread, a price of par.
The bid-to-cover ratio was 4.09.
Tenders at the high margin were allotted 95.61%.
The median discount margin was 0.069%. The low discount margin was 0.060%.
Tenders totaled $61,387,266,800 and the Treasury accepted $15,000,229,800, including $27,766,800 non-competitive.
The Fed banks bought $4,873,000 for their own account in exchange for maturing securities.
The notes are dated July 31 and due July 31, 2016.
