The US Treasury sold $52 billion in 52-week bills with a high yield of 3.980%, a level approaching the 4% threshold. The auction saw 34.18% of bids awarded at the clearing rate, indicating sustained demand but a competitive sale where investors were not willing to accept lower returns. This yield represents a significant increase from the 3.39% recorded earlier in 2026, with consistent progression since July at 3.860% and 3.880% in August. Bid-to-cover ratios ranged from 3.1x to 3.6x, while auction sizes remained stable between $50 and $52 billion.
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