Let The Deluge Begin – Treasury Does Cash Management Bill


Courtesy of Lee Adler, The Wall Street Examiner

With the suspension of the debt ceiling, the supply deluge that I’ve been warning about began today. The Treasury announced this bill yesterday, auctioned it today and will settle it tomorrow. There will be more to come. Much more. It’s the beginning of the end.

Now won’t it be fun, in the weeks and months ahead, to see T-bill rates to go the opposite way of the Fed’s magic wand pronouncement yesterday.

Liquidity moves markets!

Follow the money. Find the profits!


CUSIP: 912796XK0
Term and Type: 45-Day Bill
CMB: Yes
High Rate: 2.110%
Investment Rate: 2.151%
Price: $99.736250
Allotted at High: 65.07%
Total Tendered: $90,428,956,000
Total Accepted: $35,000,221,000
Auction Date: 08/01/2019
Issue Date: 08/02/2019
Maturity Date: 09/16/2019