The Treasury Department Thursday auctioned $13 billion of one-year 10-month floating rate notes with a high discount margin of 0.120%, at a 0.077% spread, a price of 99.919479.
The bid-to-cover ratio was 2.87.
Tenders at the high margin were allotted 4.21%.
The median discount margin was 0.105%. The low discount margin was 0.075%.
Tenders totaled $37,318,241,400 and the Treasury accepted $13,000,063,900, including $8,241,400 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The notes are dated Sept. 25 and due July 31, 2017.
