The Treasury Department Wednesday auctioned $15 billion of two-year floating rate notes with a high discount margin of 0.140%, at a 0.140% spread, a price of par.
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The bid-to-cover ratio was 3.16.
Tenders at the high margin were allotted 78.59%.
The median discount margin was 0.132%. The low discount margin was 0.110%.
Tenders totaled $47,397,575,800 and the Treasury accepted $15,000,119,800, including $22,575,800 non-competitive.
The Fed banks bought $951,215,100 for their own account.
The notes are dated Jan. 31 and due Jan. 31, 2019.
The index determination date is Jan. 23 and the index determination rate is 0.505%.
