Treasury delays bill sale due to glitch
The Treasury Department will postpone a sale of short-term paper that had been scheduled for Monday, due to technology problem that cropped up during testing.
On its website, the Bureau of Public Debt said the government planned to sell and settle $32 billion of its three-month bills and $27 billion of six-month securities. However, the auction was called off "due to an error that occurred during a test of the Treasury's auction system," the bureau said in a statement.
The auctions will close on Tuesday at noon EST for noncompetitive bids, and an hour later for competitive bids. The regularly scheduled 4-week bill sale will close at the normal time of 11:30 am Eastern, the department added.
It was the first such cancellation in 15 years, according to The Wall Street Journal, which first reported the delay.
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This story has been updated to reflect the correct closing schedule for the auctions, and to correct the sourcing on the time since the last such delay.