Treasury Paying $120 Billion in Bills Doubted as Fitch Warns
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Investors holding $120 billion of Treasury bills coming due tomorrow are increasingly worried that they won’t get paid.
Rates on the bills, maturing the same day that Treasury Secretary Jacob J. Lew has said the U.S. will exhaust its borrowing capacity, rose as high as 0.37 percent yesterday before dropping to 0.13 percent today, according to Bloomberg Bond Trader prices. The securities, issued a year earlier, traded at a rate of negative 0.01 percent as recently as Sept. 26.