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Consider the following Treasury bill auction and results. A total amount of $9 billion is to be issued with a noncompetitive bid of $3.44 billion.

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Consider the following Treasury bill auction and results. A total amount of $9 billion is to be issued with a noncompetitive bid of $3.44 billion. Bidder A B D E Amount ($ billion 0.79 1.36 2.21 1.52 4.22 Bid (yield %) 7.56 7.59 7.61 7.62 7.65 Define the stop yield. At what yield will a winning bidder be awarded securities? Ifa bidder bids for $10 million at the stop yield, how much will he or she be awarded? What is the bid-to-cover ratio for this auction? Consider the following Treasury bill auction and results. A total amount of $9 billion is to be issued with a noncompetitive bid of $3.44 billion. Bidder A B D E Amount ($ billion 0.79 1.36 2.21 1.52 4.22 Bid (yield %) 7.56 7.59 7.61 7.62 7.65 Define the stop yield. At what yield will a winning bidder be awarded securities? Ifa bidder bids for $10 million at the stop yield, how much will he or she be awarded? What is the bid-to-cover ratio for this auction

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