U.S. Treasury 6-Month Bills Auction Results: High Rate at 4.185%

The US Treasury Department has announced the results of a Dutch auction for 6-month bills, with a high rate of 4.185%, a median rate of 4.155%, and a low rate of 4.100%. The investment price was 4.335%, and the bid-to-cover ratio was 2.86. A total of $72.0 billion was accepted, with $44.76% accepted at the high rate.

The US Treasury Department recently concluded a Dutch auction for 6-month bills, yielding a high rate of 4.185%, a median rate of 4.155%, and a low rate of 4.100% [1]. The investment price was set at 4.335%, and the bid-to-cover ratio stood at 2.86. A total of $72.0 billion was accepted, with $44.76% of the total accepted at the high rate [2].

The auction results reflect the current market trends, with investors seeking higher yields in response to inflation concerns and the Federal Reserve's ongoing efforts to combat it. The 6-month bill auction follows a similar trend observed in recent Treasury bill auctions, where yields have been consistently rising [3].

The Treasury Department conducts regular auctions for bills, notes, bonds, Floating Rate Notes (FRNs), and Treasury Inflation-Protected Securities (TIPS) [2]. The auction schedule is typically released at the Treasury's Quarterly Refunding press conference, which is held on the first Wednesday of February, May, August, and November [2].

Investors can access additional statistics from May 5, 2003, through April 1, 2008, which includes information on bidding by primary dealers, direct bidders, and indirect bidders [2]. The latest auction results are updated in real-time on the Treasury's website as soon as they become available [3].

Sources:

[1] US Treasury Department. (n.d.). 6-Month Bills. Retrieved September 16, 2022, from https://www.treasurydirect.gov/auctions/results/2022/6-Month/6-Month_20220915.htm
[2] US Treasury Department. (n.d.). Treasury Sells Bills, Notes, Bonds, FRNs, and TIPS at Regularly Scheduled Auctions. Retrieved September 16, 2022, from https://www.treasurydirect.gov/instit/annceresult/annceresult.htm
[3] US Treasury Department. (n.d.). 6-Month Bill Auction Results. Retrieved September 16, 2022, from https://www.treasurydirect.gov/auctions/announcements-data-results/2022/09/15/6-Month_20220915_Auction_Results.htm