Jul
24
Investors Shy Away From T-Bill Auction With Debt Ceiling Looming
By-
Three-month bill auction attracts lowest demand in eight years
-
Bills mature when U.S. projected to reach borrowing capacity
The Treasury Department got a clear message from investors that they’re starting to get concerned another showdown over the U.S. debt ceiling may get ugly.
The government’s auction Monday of $39 billion of three-month bills attracted the lowest demand of any other sale of the securities since June 2009. The bills, which mature around when the Treasury is estimated to run out of money unless lawmakers agree to extend the statutory limit on the nation’s borrowing, were sold at a rate of 1.18 percent, the highest since October 2008…
Investors Shy Away From T-Bill Auction With Debt Ceiling Looming
