The Treasury Department yesterday said it will auction $27 billion of 91-day bills and $27 billion of 182-day discount bills on Monday.
The 91s are dated Dec. 11 and due March 12, 2009, and the 182s are dated Dec. 11 and due June 11, 2009.
Currently, there are $25,005,000,000 of 91-days outstanding and no 182s.
A combination of a "stronger-than-expected economy, higher Treasury rates, robust supply, and rich valuations resulting in choppy markets" have made the trading environment in H124 "quite difficult," according to Barclays.
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.
