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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