52-week Treasury bill — yield sketch

Coupon-equivalent about 4.06% · bank discount about 3.89% (table as-of 2026-07-10).

Shorter tenors reprice more often; longer tenors lock a mark for more days. Ladders mix tenors so principal returns on a calendar instead of one cliff date — see how a ladder works.

• Approx days: 364
• Auction cadence (spec note): every 4 weeks
• Settlement note: following Thursday

Size rungs in the ladder builder, then stress bank alternatives with after-tax yield using your state page.

Yields move every auction. Not investment advice.