The Treasury Department Tuesday auctioned $25 billion of four-week bills at a 0.070% high yield and a price of 99.994556.
The coupon equivalent was 0.071% and the bid-to-cover ratio was 4.08. Tenders at the high rate were allotted 8.05%. The median yield was 0.050% and the low yield was zero.
Tenders totaled $101,955,699,700 and Treasury accepted $25,000,949,700, including $246,451,900 of noncompetitive.
The Mayo Clinic is undertaking a $5 billion expansion that may bring new debt as it reconstructs its core Rochester, Minnesota campus.
"Just like the ATM became an additional transaction channel in the banking industry, I believe distributed ledger technology will provide municipal issuers with a similarly valued tool to sell their bonds," said Rick Coscia, Quincy's Strategic Asset Manager.
"Each party in this deal benefits in some way," said Seema Mohanty, founder of Mohanty Gargiulo.
The California Supreme Court will hear a case challenging the state's 2013 pension changes, after seemingly settling the issue with a 2020 ruling.
The "impressive" investor appetite for tax-exempts has been "holding steady all quarter despite expensive valuations, supply surges and periods of low reinvestment demand," said GW&K Investment Management strategists in a report.
As space becomes an increasingly important frontier for development and competition, spaceports should enjoy the same financial benefits as airports and seaports, say supporters of the federal legislation.
