The Treasury Department yesterday auctioned $25 billion of four-week bills at a 0.680% high yield, a price of 99.947111.
The coupon equivalent was 0.690%. The bid-to-cover ratio was 3.26.
Tenders at the high rate were allotted 96.71%. The median yield was 0.620%. The low yield was 0.500%.
Tenders totaled $81,542,702,700 and the Treasury accepted $25,000,032,700, including $580,032,700 of noncompetitives.
Los Angeles Mayor Karen Bass aimed high in her State of the City speech just days before she will release a budget that needs to close a nearly half-billion-dollar deficit.
"We believe in this," Transportation Secretary Pete Buttigieg said.
The firm said Saporito's hiring is among several other additions made to beef up Wells Fargo's commitment to munis.
While Kansas' sales tax and revenue (STAR) bond program recorded its first default late last year, Bonner Springs is considering using it for a development that includes a Mattel toy-themed amusement park.
Brodie Killian has moved to PFM from Stifel Nicholas & Co., joining its Ann Arbor office as a director.
April continues to be "harsh" for munis as the asset class has given up roughly 72 basis points in the first two weeks of the month, said Jason Wong, vice president of municipals at AmeriVet Securities.
