The Treasury Department yesterday sold $20 billion 278-day cash management bills, due Sept. 15, 2009, at a 0.390% high tender rate.
The bid to cover ratio was 3.22. The coupon equivalent was 0.396%. The price was 99.698833. The low bid was 0.100%. The median bid was 0.300%.
Tenders at 0.390% were allotted 88.77%. Tenders totaled $ 64,441,660,000 and the Treasury accepted $20,000,082,000, including $3,660,000 of noncompetitive.
Two rating agencies upgraded Los Angeles Unified School District's bond ahead of multi-billion dollar refunding.
The Basel III Endgame proposal to restructure capital holding levels comes under fire.
Friday price talk for the unrated tax-exempt paper was between 11% and 15%.
The board approved that step at its second quarter board meeting held this week.
The Inflation Reduction Act, affordable housing and clean energy were among the topics discussed at Baker Tilly's DevelUP conference in Chicago this week.
The replacement Hollywood Burbank Airport terminal won't have more gates, but will be less cramped and resolve its noncompliance with FAA safety regulations.
