The Treasury Department Wednesday auctioned $15 billion of two-year floating rate notes with a high discount margin of 0.272%, at a 0.272% spread, a price of 99.999997.
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The bid-to-cover ratio was 3.67.
Tenders at the high margin were allotted 1.06%.
The median discount margin was 0.260%. The low discount margin was 0.225%.
Tenders totaled $55,082,896,500 and the Treasury accepted $15,000,016,500, including $11,483,500 non-competitive.
The Fed banks bought $273,062,300 for their own account in exchange for maturing securities.
The notes are dated Jan. 31 and due Jan. 31, 2018.
The index determination date is an. 25 and the index determination rate is 0.305%.
