The U.S. Treasury on Tuesday sold $179 billion of securities as it works to rebuild its cash balance, with yields at its auctions of three-month and six-month debt rising to levels unseen since 2008.
The government auctioned $51 billion of three-month bills at a yield of 1.64 percent, 6 basis points more than similar-tenor notes sold on Feb. 12, while $45 billion of six-month debt yielded 1.82 percent. Its $55 billion sale of four-week notes was at a yield of 1.38 percent and the amount of bids that sale attracted relative to the offering size dropped to the lowest level since 2008. A $28 billion offering of two-year notes yielded 2.255 percent.
