The government announced details for its weekly auction of the 6-month bill Thursday morning. Treasury sales have grown in size and frequency in recent weeks as the government sets in motion its plans to stimulate the economy.
The auction for the 26-week bill, also known as the 6-month bill, is scheduled to take place on Monday, at 1 PM ET. The Treasury Department plans to sell $29 billion worth of securities that have a maturity date set for October 1st, 2009.
The previous auction the 6-month security took place earlier this week, with Monday's auction drawing a yield of 0.390 percent. The offering drew strong demand, with the bid-to-cover ratio coming in at 3.05.
Other treasury news on the day includes the government's plan to auction $31.0 billion in 3-month notes early next week.
Meanwhile, investors await the sale of longer-term securities later in the day, as the Treasury plans to auction off $24 billion worth of seven-year notes at 1 PM ET. The previous auction of $22 billion worth on seven-year notes in February drew a yield of 2.748 percent and a bid-to-cover ratio of 2.11.
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