competitive bid
Noun
A bid submitted on a yield basis in the auction of securities with the bidder specifying the rate, yield or discount margin if awarded, limited to 35% of the offering amount for each bidder in a US Treasury auction.
A bid submitted on a yield basis in the auction of securities with the bidder specifying the rate, yield or discount margin if awarded, limited to 35% of the offering amount for each bidder in a US Treasury auction.
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