The Treasury Department yesterday sold $35 billion of 328-day cash management bills at a 1.000% high tender rate.
The bid-to-cover ratio was 2.25. The coupon equivalent was 1.021%. The low bid was 0.800%. The median bid was 0.920%.
Issuance year-to-date is at $505.245, just shy of 2024's record of $507.585 billion, with $11.109 billion of supply on the calendar for the week of Nov. 17.
Two House municipal finance caucus members are running for Senate next year.
The Fargo-Moorhead Metropolitan Area Flood Risk Management Project had a deadline Friday for bondholder consent to a settlement resolving construction disputes.
Maryland's financial challenges are resurfacing via a report from the Department of Legislative Services projecting a $1.4 billion budget deficit in fiscal year 2027.
Negative rating and outlook revisions for U.S. K-12 public school districts rose markedly from 2024 to 2025, according to S&P Global Ratings.
"Despite the plethora of red flags, UMB wired the requisitioned amount based on the fraudulent wire instructions," the plaintiff said in its complaint.