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(M2) Correction Extends


Late Session Rebound


(M2) Corrective Cycle Remains In Play

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                           January 8,
Auction date:                    2018
                          January 11,
Settlement:                      2018
3-Month Bill:                          Discount  Investment             Price
                                 High     1.430       1.455         99.638528
Tenders at high discount
rate allotted:                                                          34.02  %
Median Rate:                    1.400             Low Rate:  1.375
Millions of dollars:                               Received          Accepted
Competitive                                          138366             47000
Noncompetitive                                          667               667
FIMA (Noncomp)                                          334               334
Public subtotal                                      139367             48000
Federal Reserve                                           0                 0
Total                                                139367             48000
Bid/Cover (public
subtotal)                                                                2.90
6-Month Bill:                          Discount  Investment             Price
                                 High     1.575       1.610         99.203750
Tenders at the high
discount rate allotted:                                                 56.64  %
Median Rate:                    1.555             Low Rate:  1.535
Millions of dollars:                               Received          Accepted
Competitive                                          129831             41104
Noncompetitive                                          583               583
FIMA (Noncomp)                                          314               314
Public subtotal                                      130728             42000
Federal Reserve                                           0                 0
Total                                                130728             42000
Bid/Cover (public
subtotal)                                                                3.11
--MNI Washington Bureau; +1 212-800-8517; email:

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