The Treasury Department Wednesday sold $25 million 7-day cash management bills, dated Aug. 17, due Aug. 24 at a 0.200% high tender rate.
The bid to cover ratio was 5.02.
The coupon equivalent was 0.203%. The price was 99.996111.
The low bid was 0.005%. The median bid was 0.150%. Tenders at the high were allotted 34.95%.
Tenders totaled $125,550,000 and the Treasury accepted $25,000,400, including no non-competitive.
Fernando Osorio Caño was named interim executive director after Mary Carmen Zapata resigned.
A stronger-than-expected nonfarm payroll report reignited fears that the Federal Reserve will hike rates. Munis and USTs had a somewhat muted reaction, according to Hennion & Walsh's James Pruskowski.
"The reason the number [of trade counts] is a record and not just elevated is structural, and it's been building for years," said Josh Rosenblum, head of municipal trading strategies at Brownstone.
Oregon State Rep. Paul Evans proposed a grant program that would fill budgetary gaps for small cities at risk of closing what he deems as essential city services.
Norman Regional Health System says it will use interim financing to make a Sept. 1 debt service payment that bondholders agreed to delay.
The plan aims to fundamentally change how the state collects tax revenue, aiming to eventually shrink the income tax to nothing.
