US Treasury Auctions 4-Week and 8-Week Bills

The gap between the four- and eight-week yields puts a modest premium on the longer bill, a shape consistent with expectations that the front end stays elevated rather than falling quickly. Strong bid-to-cover on both tenors suggests demand for short government paper remains firm, which matters for anyone pricing dollar funding or comparing tokenized T-bill yields against the same curve. The open question is whether that cover holds as the Treasury keeps refilling the bill market.