The Treasury Department Wednesday auctioned $13 billion of one-year 10-month floating rate notes with a high discount margin of 0.080%, at a 0.070% spread, a price of 99.981468.

The bid-to-cover ratio was 3.13.


Tenders at the high margin were allotted 63.30%.

The median discount margin was 0.068%. The low discount margin was 0.050%.

Tenders totaled $40,741,434,000 and the Treasury accepted $13,000,044,000, including $4,934,000 non-competitive.

The Fed banks bought $1,580,212,200 for their own account.

The notes are dated April 30 and due April 30, 2019.

The index determination date is June 26 and the index determination rate is 1.000%.

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Gary Siegel

Gary Siegel

Gary Siegel has been at The Bond Buyer since 1989, currently covering economic indicators and the Federal Reserve system.