Crypto
US Treasury Sees Strong Demand for Short-Term Securities
The US Treasury Department announced results for non-competitive bids on its 8-week bills. The auction took place on July 23, with a total offering amount of $100 billion. According to the data, non-competitive bidders accepted $1.1969 trillion worth of these short-term securities.
The non-competitive bids made up about $1.19 trillion of the total $3.09 trillion tendered. This means that around 39% of the total amount tendered was accepted by non-competitive bidders.
The System Open Market Account (SOMA), which is a component of the Federal Reserve's balance sheet, also participated in the auction. SOMA tendered approximately $5.99 trillion worth of these securities.