The Treasury Department Tuesday sold $30 billion 12-day cash management bills, dated June 3, due June 15, at a 0.035% high tender rate.
The bid to cover ratio was 3.86.
The coupon equivalent was 0.051%. The price was 99.998333.
The low bid was 0.010%. The median bid was 0.035%. Tenders at the high were allotted 18.91%.
Tenders totaled $115,825,000,000 and the Treasury accepted $30,000,105,000, including no non-competitive.
Participants in a power panel at The Bond Buyer's Infrastructure conference discussed current trends and the way forward for public power.
The front-end cheapening follows Wednesday's bear flattening of the UST curve in response to the Federal Reserve hiking rates and a median 2026 dot that implied another hike before yearend, said Kevin McGuigan, director at Municipal Market Analytics.
The guidance comes after Dave Sanchez, director of the Office of Municipal Securities, earlier this year signaled a focus by the SEC on whether MAs are fulfilling their duties to clients.
Despite the approval, ongoing litigation is attempting to stop the incentives to the plant.
The $5.66 billion spending plan for the fiscal year that begins Oct. 1 continues a voter-mandated plan to increase public safety spending.
Housing officials in several cities are already laying the groundwork that will enable them to take advantage of the 21st Century Road to Housing Act passed by Congress earlier this year even though funding has not yet been appropriated.
