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US Treasury Bill Rates Soar to Record High on Debt Ceiling Jitters

iconMay 8, 2023 16:59
Source:SMM
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 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.

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