The Treasury Department Wednesday auctioned $15 billion of two-year floating rate notes with a high discount margin of 0.077%, at a 0.077% spread, a price of par.
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The bid-to-cover ratio was 3.93.
Tenders at the high margin were allotted 34.13%.
The median discount margin was 0.068%. The low discount margin was 0.055%.
Tenders totaled $58,950,935,900 and the Treasury accepted $15,000,124,900, including $7,935,900 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The notes are dated July 31 and due July 31, 2017.
