US Treasury Auctions 4-Week and 8-Week Bills

The gap between the four- and eight-week yields is small, and both auctions drew strong bid-to-cover, suggesting demand for the shortest government paper remains firm. That matters for crypto and RWA markets because these bills anchor the risk-free cash alternative that competes with stablecoin yields and tokenized Treasury products. The open question is whether this appetite holds as the Treasury continues rolling its shortest-dated debt.