The auction drew a 2.61 bid-to-cover ratio, indicating solid demand as investors continue parking cash in short-dated government debt.
A U.S. 3-month Treasury bill auction cleared at a 3.750% high yield on $92 billion of sales, with a bid-to-cover ratio of 2.61. The result points to firm demand for short-dated government paper, suggesting investors are still parking cash in very short-term instruments while maintaining liquidity.