U.S. Treasury sells $171 billion in short-term bills on Sept. 8

  • U.S. Treasury auctioned 3-month and 6-month bills on September 8.
  • $171 billion was sold, including $92 billion and $79 billion tranches.
  • Short-term Treasury yields stayed between 3.7% and 4.0% through August and September 2026.

The U.S. Treasury sold $92 billion of 3-month bills and $79 billion of 6-month bills on September 8, raising $171 billion through short-term debt issuance. The 13-week bills yielded roughly 3.8%, while the 26-week bills yielded near 3.885%; only about 20.33% of bids on the shorter-dated securities were awarded at the high rate. Short-term Treasury yields remained between 3.7% and 4.0% throughout August and into September 2026. Recent auctions recorded bid-to-cover ratios of 2.6x to 3.0x, meaning investors offered to purchase substantially more debt than the Treasury sold. The auctions use a uniform-price Dutch format, in which all successful bidders pay the same yield, regardless of their individual bids. Demand comes from primary dealers, direct bidders such as large institutions, and indirect bidders including foreign central banks and international institutions. Retail investors can also buy the bills through TreasuryDirect. The difference between the 13-week and 26-week yields was roughly 8.5 basis points, a narrow spread that suggests the market does not expect rates to change materially over the following quarter.

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U.S. Treasury sells $171 billion in short-term bills on Sept. 8 - CoinPost Terminal