Here are the results of the latest Fed auction.
On March 10, 2008, the Federal Reserve conducted an auction of $50 billion in 28-day credit through its Term Auction Facility. Following are the results of the auction:
Stop-out rate: 2.800%
Total propositions submitted: $92.595 billion
Total propositions accepted: $50.000 billion
Bid/cover ratio: 1.85
Number of bidders: 82
The 2.8% is a dramatic decline from the 3.01% results of the February auction. To date this auction has given concrete guidance to future Fed decisions regarding Fed Funds.
