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What is the stop-out yield for the following auction? Suppose the Treasury auctions $15 billion of 4-week bills. The competitive bids are $5 billion at
What is the stop-out yield for the following auction? Suppose the Treasury auctions $15 billion of 4-week bills. The competitive bids are $5 billion at 1.985%, 4 billion at 1.986%, 2 billion at 1.987%, and 1 billion at 1.988%. Noncompetitive bids are 5 billion in total.
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