Let The Deluge Begin – Treasury Does Cash Management Bill
With the suspension of the debt ceiling, the supply deluge that I’ve been warning about began today. The Treasury announced this bill yesterday, auctioned it today and will settle it tomorrow. There will be more to come. Much more. It’s the beginning of the end.
Now won’t it be fun, in the weeks and months ahead, to see T-bill rates to go the opposite way of the Fed’s magic wand pronouncement yesterday.
Liquidity moves markets!
Term and Type: 45-Day Bill
High Rate: 2.110%
Investment Rate: 2.151%
Allotted at High: 65.07%
Total Tendered: $90,428,956,000
Total Accepted: $35,000,221,000
Auction Date: 08/01/2019
Issue Date: 08/02/2019
Maturity Date: 09/16/2019
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