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Using the information from the prior problem (copied below), what would be the clearing price if there was also a non-competitive bid from the Kidder
Using the information from the prior problem (copied below), what would be the clearing price if there was also a non-competitive bid from the Kidder Peabody Investment Banking operation for $400? The following bids have been submitted for the week's US Treasury 90 day T-Bill auction. The UST wants to sell $1,900 of T-Bills. What is the clearing price for the auction? Amount $400 Price $0.9979 $0.9984 $250 $725 $0.9799 Bidder Name Lehman Merrill EF Hutton DLU Smith Barney Baird Drexel $0.9975 $550 $450 $300 $0.9862 $0.9893 $375 $0.9989
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