Subject: Re: Treasury Bond Yields Tank
The yield on the 1-Month Treasury Bill has dropped like a rock from a recent peak of 4.74% March 30th down to 3.36% today. All other Treasury yields are up slightly this month. (The 2-Month increased from 4.79% to 4.98%. The 10-year increased from 3.43% to 3.57%. A year ago, the 1-Month Treasury Bill yield was 0.50%.)

The total bids tendered did not change much, but the bids were much lower. Some competitive bids were 0%. Somebody needed 1-Month bills.

      auction       13-Apr  20-Apr
  accepted [$B]       61      51
bids tendered [$B]    186     152
  InvestmentRate    4.11%   3.25%
    MedianRate      3.97%   3.00%
      LowRate       3.50%   0.00%

https://www.treasurydirect.gov...
https://www.treasurydirect.gov...
https://treasurydirect.gov/auc...
https://wolfstreet.com/2023/04...