The US Treasury is conducting an auction for $1.8 billion of 90-day US Treasury Bills. What is the market-clearing price base Using the information from the prior problem, calculate the winning price assuming there is also a non-competitive bid of $1 billion. What is the discount rate implied by the price in the scenario with the competitive bidder?

The US Treasury is conducting an auction for $1.8 billion of 90 -day US Treasury Bills. What is the market-clearing price based on the following competitive bids? The US Treasury is conducting an auction for $1.8 billion of 90 -day US Treasury Bills. What is the market-clearing price based on the following competitive bids