Tender rates for the Treasury Department's latest 182-day discount bills incurred a 1.115% high rate, unchanged from 1.115% the week before.

The coupon equivalent was 1.137%, and the price was 99.436306.

The median bid was 1.090%. The low bid was 1.060%. Tenders at the high rate were allotted 38.58%. The bid-to-cover ratio was 3.41.

Treasury building.
Treasury building.

Tenders totaled $112,595,677,600 and the Treasury accepted $33,000,254,600, including $397,380,300 of non-competitive.

The Fed banks bought nothing for themselves.

Treasury also auctioned $26 billion of two-year notes with a 1 1/4% coupon at a 1.345% yield, a price of 99.813152.

The bid-to-cover ratio was 2.86.

Tenders at the high yield were allotted 1.69%.

The median yield was 1.300%. The low yield was 1.188%.

Tenders totaled $74,265,703,700 and the Treasury accepted $26,000,068,700, including $111,428,700 non-competitive.

The Fed banks bought $814,931,100 for their own account in exchange for maturing securities.

The two-year notes are dated August 31 and due August 31, 2019.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.
Gary Siegel

Gary Siegel

Gary Siegel has been at The Bond Buyer since 1989, currently covering economic indicators and the Federal Reserve system.