The Treasury Department Wednesday auctioned $13 billion of one-year 10-month floating rate notes with a high discount margin of 0.330%, at a 0.168% spread, a price of 99.698968.
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The bid-to-cover ratio was 3.48.
Tenders at the high margin were allotted 13.86%.
The median discount margin was 0.290%. The low discount margin was 0.250%.
Tenders totaled $45,228,818,800 and the Treasury accepted $13,000,418,300, including $11,964,800 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The notes are dated Oct. 31 and due Oct. 31, 2017.
The index determination date is Dec. 21 and the index determination rate is 0.250%.
