2-month T-bill rate tumbles almost half of a percentage point since Thursday as traders weigh banking, debt-ceiling issues

The 2-month T-bill rate has fallen nearly half of a percentage point since last Thursday, as traders assessed the risks facing the U.S. economy. As of 11 a.m. Eastern time, the yield was 4.859%, down 46.3 basis points from where it stood on Thursday, according to Tradeweb. Thursday’s level of 5.322% was the highest since October 2018, when Treasury auctioned the bill for the first time. Meanwhile, Treasury yields and all three major U.S. stock indexes were lower in late-morning trading as concerns about regional banks resurfaced.

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