The Treasury Department yesterday auctioned $32 billion of four-week bills at a 0.050% high yield and a price of 99.996111.
The coupon equivalent was 0.051%. The bid-to-cover ratio was 2.64.
Tenders at the high rate were allotted 82.76%. The median yield was 0.000%. The low yield was 0.000%.
Tenders totaled $84,567,636,400 and the Treasury accepted $32,000,048,400, including $410,870,400 of noncompetitive.
The firm said Saporito's hiring is among several other additions made to beef up Wells Fargo's commitment to munis.
While Kansas' sales tax and revenue (STAR) bond program recorded its first default late last year, Bonner Springs is considering using it for a development that includes a Mattel toy-themed amusement park.
Brodie Killian has moved to PFM from Stifel Nicholas & Co., joining its Ann Arbor office as a director.
April continues to be "harsh" for munis as the asset class has given up roughly 72 basis points in the first two weeks of the month, said Jason Wong, vice president of municipals at AmeriVet Securities.
The city may have to make deeper cuts next year if voters don't approve two tax increases headed for the November ballot, if the City Council approves.
The most recent open solicitation period, last October, yielded three proposals.
