December 4, 2018 / 2:55 PM / 7 months ago

U.S. Treasury to announce 4-, 8-week bills a day early this week

WASHINGTON, Dec 4 (Reuters) - The U.S. Treasury said on Tuesday it would announce 4-week and 8-week bills later in the day, rather than on Wednesday as had been scheduled.

The bills would be announced at 1330 EST (1830 GMT). The change was made because the federal government will be closed on Wednesday for a day of mourning for former President George H.W. Bush.

Announcements typically are made at 1100 EST (1600 GMT) but Treasury said it decided to make Tuesday’s announcement later in the day to avoid confusion with Tuesday’s auction of 4- and 8-week bills at 1130 EST (1630 GMT). The announcement for those bills was on Monday, Dec 3.

Per guidance at the Treasury’s August refunding announcement, the transition period for 4- and 8-week bills was completed with the auctions announced on Dec. 3.

Going forward, 4- and 8-week bills will generally be announced on Tuesdays, auctioned on Thursdays and settle and mature on Tuesdays.

This week, there will be two auctions of 4- and 8-week bills, as Treasury makes the transition to the new calendar. (Reporting by Andrea Ricci Editing by Chizu Nomiyama)

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