As we mentioned in the textbook, generally the shortest Treasury bills
issued are 13 week maturity. However, given the recent debt ceiling
problems, the Treasury issued cash management bills (CMBs), with a one
day maturity. On Friday, June 2, the Treasury sold $15 billion
in one day CMBs, to be issued on June 5 that mature on June 6. Over the
past 25 years, the Treasury has held six CMBs auctions with a maturity
of one day. And on June 1, the Treasury auctioned $25 billion in
three-day bills.
Sunday, June 4, 2023
The Shortest Treasury Bills
