NEW YORK - The Treasury Department Tuesday sold $20 billion 64-day cash management bills, dated Feb. 15, due April 19, at a 0.120% high tender rate.
The bid to cover ratio was 4.52.
The coupon equivalent was 0.122%. The price was 99.978667.
The low bid was 0.080%. The median bid was 0.110%. Tenders at the high were allotted 30.68%.
Tenders totaled $90,496,100,000 and the Treasury accepted $20,000,500,000, including $6,100,000 non-competitive.
With billions of federal funding available from the Infrastructure Investment and Jobs Act, one observer says it could be limiting the amount of municipal bonds issued by the sector.
Teague, most recently an executive director of the municipal securities department at Morgan Stanley, will focus on surface transportation.
Steven Mahr moved to Chicago two years ago, and in March, he moved from Stifel to the city's finance department, where he's now happily tackling tough problems.
S&P Global Ratings joined Moody's in assigning a negative outlook to its triple-A rating, but a criteria change pushed Fitch's rating of the city up to AAA.
Inflows returned to muni mutual funds as investors added $200.3 million for the week ending Wednesday after $1.474 billion of outflows, according to LSEG Lipper.
Democratic Gov. Laura Kelly nixed another tax cut bill passed by the Republican-led legislature this year, while pushing a less-costly plan.
