Cash Management Bill Auction Results
Results of every cash management bill auction from Dec 4, 2025 to May 21, 2026 (2 auctions), from the U.S. Treasury Fiscal Data API. The latest cash management bill auction, on May 21, 2026, produced a high investment rate of 3.665%, with a bid-to-cover ratio of 4.60.
U.S. Treasury securities: not FDIC-insured · not bank deposits · market value can change before maturity
- Latest high investment rate3.665%
- Low in this period3.665%
- High in this period3.773%
- Auctions on file2 since
Upcoming cash management bill auctions
No cash management bill auction is on Treasury's upcoming list for the next 14 days.
Cash Management Bill auction history
| Auction date | Security | Term | CUSIP | Headline rate | Bid-to-cover | Change vs prior same-term | Source |
|---|---|---|---|---|---|---|---|
| Cash mgmt. bill (reopening) | 27-Day | 912797TD9 | 3.665% inv. rate | 4.60 | — | results PDF | |
| Cash mgmt. bill | 2-Day | 912797A72 | 3.773% inv. rate | 4.32 | — | results PDF |
Source: U.S. Treasury Fiscal Data API, Treasury Securities Auctions Data, retrieved 2026-10-16 22:52 CDT; each row links to the official TreasuryDirect results PDF. Bills: investment rate (bond-equivalent) and discount rate. Notes/bonds: high yield and coupon. TIPS: high real yield (before inflation adjustment). FRNs: high discount margin. bp = basis points (0.01 percentage point). Change compares the headline rate with the prior auction of the same security type and term.
Download: cash-management-bills.csv