The Treasury Department yesterday sold $20 billion of 25-day cash management bills, dated March 27 and due April 21, at a 1.340% high tender rate.
The bid to cover ratio was 2.43.
The coupon equivalent was 1.360%. The price was 99.906944.
The low bid was 0.900%. The median bid was 1.080%. Tenders at 1.340% were allotted 41.28%.
Tenders totaled $48,571,312,000 and the Treasury accepted $20,000,112,000, none of them noncompetitive.
"Folloing recent yield moves, a generic muni index is now down 1% on the month with no real sub-sector showing much deviation from that result," said Kim Olsan, senior vice president of trading at FHN Financial.
The law firm revealed 2024 promotions.
As the nation's fourth largest city faces a growing structural budget deficit, it is also expecting to issue more than $3 billion of debt for its airport, water and sewer system, convention center, as well as to fund a settlement with firefighters and for cash-flow purposes.
The extension of the current solar net metering system could lower revenue for the utility.
The finance team is "marketing slices of risk" to raise money to refinance its debt, investors said.
John Fleming is pushing back against a proposal in the state Legislature to change the way the state Bond Commission oversees the issuance of debt by cities, counties and local governments and entities.
