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Difference between Treasury Direct Yield and Coupon Equivalent.
Difference between Treasury Direct Yield and Coupon Equivalent. I recently bought a 4-week T-bill (CUSIP 912797MP9) and it came with a yield of 4.51%. https://taaps.gov/instit/annceresult/press/preanre/2024/R_20241114_2.pdf But the coupon equivalent rate for 11/14 was 4.6%. https://home.treasury.gov/resource-center/data-chart-center/interest-rates/TextView?type=daily_treasury_bill_rates&field_tdr_date_value=...
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