6-Month T-Bill Auction: Results, Dates, Rates Today

Warren Buffett has spent decades proving that holding onto cold, hard cash isn’t a boring strategy — it’s often the smartest one on the table. Right now, with 6-month Treasury bill yields sitting in a range that would have seemed impossible just a few years ago, individual investors are paying close attention to what the Oracle of Omaha is doing with his own balance sheet. Here’s what the latest auction data shows, why Buffett’s T-bill pile keeps growing, and what it means for anyone weighing these short-term government bonds against the broader market.

Key Investor: Warren Buffett · Berkshire Holdings: More T-Bills than Federal Reserve · I Bonds Rate: 9.62% · Social Bonds Rate: 7.5% · Auction Source: TreasuryDirect.gov

These figures illustrate how U.S. T-bill holdings compare across major institutional investors and the broader market.

What is the current 6 month T-bill rate today?

The most recent 6-month Treasury bill auction closed with a rate of 3.500%, down from the prior auction’s 3.525% (CME Group). The bid-to-cover ratio came in at 3.09, up slightly from 3.08, indicating solid demand despite the small rate dip.

Rates fluctuate with each auction cycle, so there’s no single “current” rate that stays fixed. The U.S. Treasury’s official auction results from March 16, 2026 showed a rate of 3.57%, up from the previous 3.535% (FastBull). The spread between these figures reflects how sensitive short-term rates are to market conditions and Treasury demand.

Latest auction yield

The auction mechanism itself determines the final yield. Competitive bidders submit rates they’re willing to accept, and the cutoff price sets the settlement rate for all successful buyers. Noncompetitive results — available 15 minutes before competitive close — let smaller investors guarantee a purchase at the market-clearing rate (TreasuryDirect).

Real-time updates

TreasuryDirect publishes auction results in real-time as they’re settled (TreasuryDirect). The site maintains historical records dating back to 1997 for TIPS and 1998 for other bill types, making it straightforward to track rate trends over time.

Are 6 month T-bills a good investment?

For investors who value certainty over upside, 6-month T-bills check the right boxes. You get a guaranteed return of principal at maturity, predictable interest paid at settlement, and exposure to virtually no credit risk — the U.S. government is the borrower (Jiko).

The trade-off is that T-bill yields, while respectable by historical standards, trail what riskier assets have delivered over longer periods. Berkshire Hathaway has made enormous gains on Apple stock — over $100B according to recent disclosures — while its T-bill holdings earn a fraction of that in interest (Quiver Quant). The question is whether that safety premium is worth missing out on equity returns.

Pros and cons

The calculus hinges on what you need the money to do. If capital preservation and liquidity matter more than growth, T-bills deliver. If you’re building long-term wealth, the opportunity cost compounds against you.

Compared to other bonds

I Bonds currently offer rates around 9.62%, but annual purchase limits ($10,000 per person) cap the benefit for larger investors. Social Bonds sit at 7.5%, similarly constrained. T-bills, by contrast, have no meaningful purchase ceiling — institutions can and do buy billions at auction (Jiko).

The comparison comes down to access and scale. If you need to park $50,000 or $500,000 safely for six months, T-bills are one of the few instruments that can absorb that volume without dilution.

Why does Warren Buffett own so many T-bills?

Because cash and short-term Treasuries are his call option on the next crash. Berkshire Hathaway held $144 billion in T-bills through 2021 — when rates were near zero — and kept buying. By June 2024, that position had grown to $234 billion, an 81% increase in just the first half of the year (Jiko). By end of March 2025, it hit $300.87 billion.

Buffett put it plainly in his 2022 annual report: “Berkshire will always hold a boatload of cash and U.S. Treasury bills” (Jiko). That’s not hedging — it’s a deliberate stance. He wants dry powder for when panics create buying opportunities nobody else can exploit because they’re already tapped out.

Berkshire strategy

Buffett follows a weekly T-bill strategy that effectively ladders maturities, ensuring cash flows are available on a rolling basis without forcing firesales of longer-dated holdings. According to reports from Quiver Quant, Berkshire purchased approximately $17 billion in Treasuries during a single week — a concrete example of how aggressively the firm moves when conditions align (Quiver Quant).

Holdings vs. Federal Reserve

The numbers are striking. As of April 2025, Berkshire’s $300.87 billion in T-bills represented 4.89% of the entire $6.15 trillion U.S. T-bill market — and it exceeded the Federal Reserve’s $195 billion holding in that same period (Mitrade). One private company holds more short-term government debt than the central bank of the United States.

Warren Buffett, CEO of Berkshire Hathaway

“Berkshire will always hold a boatload of cash and U.S. Treasury bills.”

Are T-bills safe if the market crashes?

In a word: yes. T-bills are backed by the U.S. government, which has never defaulted on its obligations. During market dislocations — from the 2008 financial crisis to the March 2020 COVID crash — short-term Treasuries performed exactly as designed: prices held, yields dropped, and investors got their principal back.

The mechanism is straightforward. When stocks fall, investors flee to safety. Money flows into government debt, pushing T-bill prices up and yields down. If you hold to maturity, you receive par value regardless of what happened in the stock market during those six months.

Recession performance

Historical data from Federal Reserve Economic Data (FRED) confirms that T-bills delivered positive returns in every U.S. recession since the 1970s. The reason is structural: the U.S. government cannot run out of money in its own currency, so default risk on short-dated bills is effectively zero.

Bonds during crashes

The distinction matters between government bonds and corporate bonds. Investment-grade corporate bonds are generally safe, but they’re not immune to distress — spreads widen, prices fall, and liquidity can dry up. T-bills don’t have this problem because there’s always a buyer for U.S. government debt, regardless of market conditions (Jiko).

What are 6 month t bill auction dates?

The U.S. Treasury runs 6-month bill auctions every week, following a standard three-day cycle: announcement on Thursday, auction on Monday, settlement on Thursday (TreasuryDirect). The tentative schedule is released quarterly at press conferences on the first Wednesday of February, May, August, and November.

The next 26-week bill auction was announced Thursday, February 5, 2026, auctioned Monday, February 9, 2026, and settled Thursday, February 12, 2026 (Treasury.gov). An upcoming 26-week bill with CUSIP 912797SK4 has an issue date of 04/23/2026, also listed on TreasuryDirect (TreasuryDirect).

Upcoming auctions

The Treasury publishes a full tentative schedule in PDF format on Treasury.gov, which includes all announcement dates, auction dates, and settlement dates for bills, notes, and bonds through the calendar year. For 6-month bills specifically, the pattern is predictable: roughly $77 billion offered each week, with the amount staying flat for extended periods when fiscal needs are stable (CME Group).

Tentative schedule

Investors can access the full 2026 tentative schedule through the official Treasury PDF, which breaks down every scheduled auction by CUSIP, offering amount, and date. TreasuryDirect’s upcoming auctions page shows individual bill identifiers and issue dates, making it straightforward to plan purchases well in advance.

What the market numbers show

Four data points tell the story of where T-bills stand right now. Berkshire’s $300.87 billion holding — more than the Federal Reserve — signals that serious money sees value in these instruments (Mitrade). The bid-to-cover ratio of 3.09 confirms institutional demand remains robust even at the $77B auction size. And rates in the 3.5–4.5% range mean the yield curve is still offering real returns, not just nominal ones.

Singapore’s Monetary Authority conducted its own 6-month T-bill auction on January 15, 2026, with the issue date January 20, 2026, maturing July 21, 2026 (MAS.gov.sg). The parallel market demonstrates that T-bill auctions are a global phenomenon — the same logic applies whether you’re buying through TreasuryDirect or the Monetary Authority of Singapore.

Berkshire Hathaway’s cash position exceeds $334 billion, with approximately 90% held in T-bills (Mitrade). The concentration isn’t accidental. Buffett has watched the Federal Reserve and central banks worldwide flood markets with liquidity — and he’s drawn the obvious conclusion: having cash available when others are forced to sell is worth more than the interest income you’re giving up.

The implication: when the next market dislocations hit, the investor with T-bill reserves can act while leveraged players scramble for liquidity.

Summary

6-month T-bill auctions remain one of the most transparent, liquid markets in global finance — and the data backs that up. Rates in the 3.5–4.5% range, a bid-to-cover ratio above 3, and auction sizes holding steady at $77B tell you demand is solid. Warren Buffett’s $300.87 billion position — larger than the Federal Reserve’s — is a statement about risk management, not yield chasing. For investors weighing these instruments against higher-yielding alternatives like I Bonds (9.62%) or Social Bonds (7.5%), the calculus depends on scale and liquidity needs. Investors who maintain cash reserves in T-bills will be positioned to act when the next correction arrives, while those on the sidelines watch from the margins.