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Macro

US Treasury Auctions 4-Week and 8-Week Bills

The US Treasury auctioned four-week bills at a high yield of 3.890% with a bid-to-cover ratio of 2.83, and eight-week bills at a high yield of 3.990% with a bid-to-cover ratio of 2.70. The results set the latest short-term funding costs for the government’s shortest-dated debt.

Original source

AI take

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.

Generated by AI for reference only.

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