The Treasury Department Wednesday auctioned $13 billion of one-year 10-month floating rate notes with a high discount margin of 0.041%, at a 0.070% spread, a price of 100.054264.
The bid-to-cover ratio was 4.45.
Tenders at the high margin were allotted 94.76%.
The median discount margin was 0.039%. The low discount margin was 0.035%.
Tenders totaled $57,898,529,200 and the Treasury accepted $13,000,059,200, including $19,529,200 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, 2016.