WASHINGTON — The Treasury Department yesterday auctioned $8 billion of four-week bills at a 4.540% high yield, a price of 99.646889.
The coupon equivalent was 4.619%. The bid-to-cover ratio was 3.37. Tenders at the high rate were allotted 4.35%. The median yield was 4.530%. The low yield was 4.500%.
The commission also approved converting a GO bond sale from competitive to negotiated.
The market is still in a negative technical period, said Chris Eustance, a portfolio manager at Morgan Stanley Investment Management.
Chicago's Regional Transportation Authority plans to return to market next Monday with $130 million of Series 2025A general obligation bonds.
Accusations are flying between the Republican state treasurer and attorney general, adding fuel to a battle that started last year.
Working in the public interest was "very satisfying," the longtime SEC lawyer said.
Federal Reserve Gov. Adriana Kugler said tighter monetary policy has proved to be less impactful on nonbank lenders during the post-pandemic era.
