The U.S. Treasury Department's one-month Treasury bill yield hit a record high. This came after Treasury Secretary Janet Yellen said that the United States could run out of money to pay its bills by June 1.
The Treasury Department sold $50 billion in 4-cycle Treasury bills on Thursday at a record rate of 5.84%.
That's the highest rate for any Treasury bill since 2000, the data show.
The maturity date of this batch of Treasury bills is June 6.
The Treasury Department also issued $45 billion in 8-cycle Treasury bills at a rate of 5.40%.
That's the highest level since the Treasury bill was launched in 2018.
More popular news:
'Bond King' Jeffrey Gundlach Says Sharp Fed Rate Cuts By Year-End Will Push Up Gold Prices
Copper Shortage Is Irreparable Even after Biggest Mergers and Acquisitions, Here’s Why
BofA Sharply Lowers Forecast for Oil Price, Global Oil Consumption in 2023
US Treasury Bill Rates Soar to Record High on Debt Ceiling Jitters
No Other Country can Replace China's Manufacturing Industry Including India
Global Manufacturing PMI in April Points to Greater Downward Pressure on Global Economy
SMM Daily Comments (May 5): LME Base Metals Rose across the Board, SHFE Nickel Plunged
