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The US Treasury is conducting an auction for $1.6 billion of 90-day US Treasury Bills. What is the market- clearing price based on the following competitive bids? Firm Lubar & Co Bolton Amount ($ in millions) $700 Price $0.9933

The US Treasury is conducting an auction for $1.6 billion of 90-day US Treasury Bills. What is the market- clearing price based on the following competitive bids? Firm Lubar & Co Bolton Amount ($ in millions) $700 Price $0.9933

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Question 3 The US Treasury is conducting an auction for $1.6 billion of 90-day US Treasury Bills. What is the market- clearing price based on the following competitive bids? Firm Lubar & Co Bolton Trading Lehman Brothers Goldman Sachs Spellman and Fisher Amount ($ in millions) $700 $400 $300 Price $450 $0.9933 $600 $0.9937 $0.9941 $0.9930 $0.9936
Transcribed Image Text:Question 3 The US Treasury is conducting an auction for $1.6 billion of 90-day US Treasury Bills. What is the market- clearing price based on the following competitive bids? Firm Lubar & Co Bolton Trading Lehman Brothers Goldman Sachs Spellman and Fisher Amount ($ in millions) $700 $400 $300 Price $450 $0.9933 $600 $0.9937 $0.9941 $0.9930 $0.9936
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