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Treasury Is Offering 6 Week Bills

Marfa
  |     |   68 posts since 2022

The Treasury is offering 6 week t-bills now. Looks like it’s ongoing ; not just a special. Buy through your treasury direct account or purchase through your brokerage account

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MAKNYC
  |     |   324 posts since 2015
Not a recent development. These 42 day Cash Management Bills have been auctioned weekly since mid 2023 under Janet Yellen. Some brokers might not have offered access, but they have been available thru Fidelity from day 1.
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Marfa
  |     |   68 posts since 2022
I appreciate you correcting me. I usually buy 4 and 8 week bills from my treasury account and never noticed them before.
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alan1
  |     |   880 posts since 2015
MAKNYC -- these are not 42-day cash management bills. They are a new product, 6-week Treasury bills.

If you look at the Tentative Schedule of Treasury auctions, you can see that a 6-week CMB was auctioned on February 11. The first auction of a six-week bill is scheduled for February 18, with further auctions scheduled on a weekly basis.
https://home.treasury.gov/system/files/221/Tentative-Auction-Schedule.pdf
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MAKNYC
  |     |   324 posts since 2015
6 wk x 7 day = 42 days. It’s the same thing. When Yellen started this in ‘23 it was presumed/hoped to be temporary. 2 years later @ $ 60-80 billion each week and the reality of continuing to sell forever it was decided to rename by Bessent.  But the schedule and quantity is a pure continuation of the original schedule….auction on Tuesdays for settlement on Thursdays.
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txFish1
  |     |   479 posts since 2023
MAKNYC you are correct sir they are the same thing. I was talking to my Fidelity advisor and he said they were indeed meant to be a temporary as needed issue back in 2023 but so far have become a regular part of the auction process
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RichardW
  |     |   821 posts since 2019
Thank you for posting this information MAKNYC, alan1, txFish1, and Marfa.

Starting with CUSIP# 912797MU6 to be auctioned on February 18, 2025, the Treasury is transitioning the 6-week CMB (Cash Management Bill) to benchmark status. Apparently, the transition merely changes the product identification from “6-week CMB” to “6-week BILL”

See the topic “6-WEEK BILL BENCHMARK” within this Treasury Press Release: https://home.treasury.gov/news/press-releases/sb0010
“As announced at the May 2024 quarterly refunding, Treasury plans to transition the 6-week CMB to benchmark status. During the transition, Treasury will continue to issue the 6-week CMB at a regular weekly cadence. Treasury anticipates that the first benchmark 6-week bill auction will be announced on February 13, 2025, and auctioned on February 18, 2025. As noted previously, Treasury intends to maintain the Thursday settlement and maturity cycle for the 6-week benchmark bill.”
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Hobbs_M
  |     |   38 posts since 2024
This can be set to auto roll on treasury.gov. I haven't checked but they were suppose to make it available for auto roll on Fidelity and I imagine other brokerages as well.
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CDCA
  |     |   18 posts since 2023
Is there any advantage of these vs VUSXX?
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