The Treasury Department Wednesday auctioned $13 billion of one-year 10-month floating rate notes with a high discount margin of 0.055%, at a 0.060% spread, a price of 100.009018.

The bid-to-cover ratio was 3.46.

Treasury building.
Treasury building.

Tenders at the high margin were allotted 67.13%.

The median discount margin was 0.050%. The low discount margin was 0.030%.

Tenders totaled $44,949,098,400 and the Treasury accepted $13,000,463,400, including $13,558,400 non-competitive.

The Fed banks bought nothing for their own account.

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

The index determination date is September 25 and the index determination rate is 1.050%.

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