The Federal Reserve yesterday announced the results of its term auction facility, selling $30 billion of 28-day credits at a 3.95% stop-out rate.

The bid-to-cover ratio was 1.85. Bids at the stop-out rate were prorated at 11.12%.

Total propositions submitted were $55.526 billion, and the Fed accepted $30.000 billion. There were 56 bidders.

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.