NEW YORK - The Treasury Department today sold $25 billion 56-day cash management bills, dated June 24, due Aug. 19, at a 0.120% high tender rate.
The bid to cover ratio was 4.33.
The coupon equivalent was 0.122%. The price was 99.981333.
The low bid was 0.080%. The median bid was 0.105%. Tenders at the high were allotted 30.06%.
Tenders totaled $108,309,105,000 and the Treasury accepted $25,000,487,000, including $1,105,000 non-competitive.
U.S. Attorney for the District of Columbia Jeanine Pirro said in a social media post Friday morning that the Justice Department is closing its investigation into Federal Reserve Chair Jerome Powell, clearing a path for Kevin Warsh to be confirmed as Powell's replacement.
"Retiring these terms eliminates unnecessary ambiguities associated with their use in MSRB rules," MSRB Board Vice Chair Wendell Gaertner said.
Researchers examined more than 580,000 municipal bond issues and say the data shows communities with higher wildfire risk pay higher interest rates.
It was another "topsy-turvy day" for munis, said Kim Olsan, senior fixed income portfolio manager at NewSquare Capital. Munis have been weaker on the front end for a few days, leading to a slight inversion of the curve, starting around the 2028 maturities, Olsan said.
The state Supreme Court's ruling comes in a case that targeted the 2022 issuance of nearly $687 million of ratepayer-backed bonds for a utility company.
The Arlington City Council approved a master agreement to fund ongoing maintenance, operation, and improvements at the city-owned NFL stadium.
