The U.S. Treasury sold $171 billion of short-term bills on September 8 while conducting a broader debt-issuance period featuring more than $119 billion in 3-year, 10-year and 30-year securities. The bill sales included $92 billion of 3-month bills and $79 billion of 6-month bills, yielding roughly 3.8% and 3.885%, respectively. The broader schedule includes $58 billion of 3-year notes, $39 billion of 10-year notes and $22 billion of 30-year bonds. Short-term Treasury yields remained between 3.7% and 4.0% through August and into September 2026, while recent auctions recorded bid-to-cover ratios of 2.6x to 3.0x for bills and 2.5x to 2.85x for 3-year notes. The narrow 8.5-basis-point spread between the 13-week and 26-week bills suggests markets expect little rate movement over the following quarter, while the 3-year auction yield will help assess expectations for Federal Reserve policy and borrowing costs.