The Treasury Department Wednesday auctioned $15 billion of two-year floating rate notes with a high discount margin of 0.070%, at a 0.070% spread, a price of 99.999994.
The bid-to-cover ratio was 3.35.
Tenders at the high margin were allotted 97.71%.
The median discount margin was 0.065%. The low discount margin was 0.045%.
Tenders totaled $50,217,848,700 and the Treasury accepted $15,000,071,700, including $20,297,700 non-competitive.
The Fed banks bought $2,047,275,600 for their own account.
The notes are dated April 30 and due April 30, 2019.
The index determination date is April 24 and the index determination rate is 0.820%.