BILState Street SPDR Bloomberg 1-3 Month T-Bill ETF
The schedule
- Thu15Oct
The October distribution and Q3 review act as another mechanical reset for the fund, paying out the third quarter's accrued interest.
- Wed16Dec
The final FOMC meeting of 2026 will set the stage for 2027 monetary policy, adjusting expectations for money market and short-duration treasury yields.
Past
- Wed16Sep
The September FOMC meeting and updated dot plot will solidify the rate environment for the remainder of 2026, anchoring the T-bill yield curve.
- Wed12Aug
Actual outcome: Bull · $91.55 at outcome
Treasury yields surged to multi-year highs amid persistent inflation fears and rising oil prices, driving demand for ultra-short-term cash equivalents. Investors flocked to the safety and yield of short-term T-bills amidst a broader global bond rout, pushing the ETF's price above the bull target.
The August CPI print will be critical for inflation expectations, heavily influencing the Federal Reserve's stance on short-term rates heading into the fall.
- Wed15Jul
Actual outcome: Bull · $91.56 at outcome
BIL's price reached $91.56, exceeding the bull target, as the ETF benefited from a sustained high-interest-rate environment. Market expectations of a Fed rate hold and jumping global bond yields amid inflation fears reinforced the attractiveness of short-term Treasuries. This dynamic drove continued investor inflows into cash ETFs like BIL, supporting its net asset value and distribution yield.
The scheduled monthly distribution and Q2 performance update will reset the NAV as accrued interest is paid out to shareholders.
- Wed17Jun
Actual outcome: Bull · $91.52 at outcome
Price reached or exceeded bull target ($91.55) at outcome date.
The June FOMC policy decision will provide clarity on the Fed Funds Rate trajectory, directly impacting the forward yield of the 1-3 month T-bills held in the portfolio.
