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Let The Deluge Begin – Treasury Does Cash Management Bill

With the suspension of the debt ceiling, the supply deluge that I’ve been warning about began today. The Treasury announced this bill yesterday, auctioned it today and will settle it tomorrow. There will be more to come. Much more. It’s the beginning of the end.

Now won’t it be fun, in the weeks and months ahead, to see T-bill rates to go the opposite way of the Fed’s magic wand pronouncement yesterday.

Liquidity moves markets!

Follow the money. Find the profits! 


CUSIP: 912796XK0
Term and Type: 45-Day Bill
CMB: Yes
High Rate: 2.110%
Investment Rate: 2.151%
Price: $99.736250
Allotted at High: 65.07%
Total Tendered: $90,428,956,000
Total Accepted: $35,000,221,000
Auction Date: 08/01/2019
Issue Date: 08/02/2019
Maturity Date: 09/16/2019

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Lee Adler

I’ve been publishing The Wall Street Examiner and its predecessor since October 2000. I also publish, and was lead analyst for Sure Money Investor, of blessed memory. I developed David Stockman's Contra Corner for Mr. Stockman. I’ve had a wide variety of finance related jobs since 1972, including a stint on Wall Street in both sales, analytical, and trading capacities. Prior to starting the Wall Street Examiner I was a commercial real estate appraiser in Florida for 15 years. I was considered an expert in the analysis of failed properties that ended up in the hands of bank REO divisions, the FDIC, and the RTC. Remember those guys? I also worked in the residential mortgage and real estate businesses in parts of the 1970s and 80s. I have been charting stocks and markets and doing analytical work since I was a teenager. I'm not some Ivory Tower academic, Wall Street guy. My perspective comes from having my boots on the ground and in the trenches, as a real estate broker, mortgage broker, trader, account rep, and analyst. I've watched most of the games these Wall Street wiseguys play from right up close. I know the drill from my 55 years of paying attention. And I'm happy to share that experience with you, right here. 

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