The Treasury Department Wednesday auctioned $15 billion of two-year floating rate notes with a high discount margin of 0.045%, at a 0.045% spread, a price of par.
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The bid-to-cover ratio was 5.67.
Tenders at the high margin were allotted 51.49%.
The median discount margin was 0.039%. The low discount margin was zero.
Tenders totaled $84,998,132,200 and the Treasury accepted $15,000,071,200, including $74,547,200 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The notes are dated January 31 and due January 31, 2016.
