The Treasury Department Wednesday auctioned $13 billion of one-year 10-month floating rate notes with a high discount margin of 0.035%, at a 0.048% spread, a price of 100.023603.

The bid-to-cover ratio was 3.26.

Tenders at the high margin were allotted 84.52%.

The median discount margin was 0.028%. The low discount margin was 0.005%.

Tenders totaled $42,323,693,100 and the Treasury accepted $13,000,051,100, including $8,693,100 non-competitive.

The Fed banks bought nothing for their own account.

The notes are dated Oct. 31 and due Oct. 31, 2019.

The index determination date is December 23 and the index determination rate is 1.355%.

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.