US 1-month bill yields jump after dismal auction

NEW YORK: The yields on US Treasury bills turned higher on Tuesday after a dismal auction where investors fretted whether to buy a T-bill issue that matures about the time when the government might be out of cash if the debt limit is not raised in late September.

The latest one-month bill issue that matures on Oct. 5 fetched a yield of 1.300 percent, which was above the yield of 1.290 percent on two-year Treasury notes in the open market, Reuters data showed.