The 1 Year Treasury Bill rate was 5.15 as of the last reporting period May 26, 2023. This US-government-issued short-term debt obligation is considered to be one of the safest places to keep cash and many institutions use short-term Treasury bills as substitutes for cash in money markets and certificates of deposit. Each bill has a redemption value (par value) of $1000. The price of the bond and the interest rate have an inverse correlation, i.e., if the price is higher than par value, the interest rate is lower.
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