The Treasury Department said Thursday it will auction $39 billion 91-day bills and $33 billion 182-day discount bills Monday.
The 91s settle Aug. 10, and are due Nov. 9, and the 182s settle Aug. 10, and are due Feb. 8, 2018.
Currently, there are $52.997 billion 91-days outstanding and no 182s.
Recent years' credit quality was "akin to a sugar rush," one investor said. Now we're seeing "fiscal normalization," an analyst suspects.
The state faces a $1.2 billion revenue hit in fiscal 2026 , as well as future spending pressures, from President Trump's One Big Beautiful Bill.
"If the narrative takes hold that the Fed is behind the eight ball and will need to cut rates several times in the coming months to catch up to the realities of a weaker economy, we expect muni yields will drift lower alongside treasuries," Birch Creek strategists said.
Sequestration on direct-pay bonds kicks in Oct. 1 without a fresh funding bill.
The plan being floated by California Gov. Gavin Newsom would nearly double the $21 billion fund created to protect the state's investor-owned utilities from outsized wildfire claims.
The council voted to preliminarily approve a $3.7 billion deal that will return an NFL team to play games inside the city limits while committing over $1 billion in taxpayer money.
