Wi wi

• T bills trade on a wi basis between the day they are announced and the day they are settled. Late Tuesday and on Wednesday, two bills will trade wi, the bill just auctioned and the bill just announced. The latter used to be called the wi wi bill. However, now it is common for dealers to speak of the just auctioned bill as the 3month bill and of the newly announced bill and the wi bill. This change in jargon resulted from a change in the way interdealer brokers of bills list bills on their screens. Cantor Fitz still lists a new bill as the wi bill until it is settled.

• Treasury bills trade on a wi basis between the day they are auctioned and the day settlement is made. Bills traded before they are auctioned are said to be traded wi wi.

 Embedded terms in definition
T bill
Treasury bill
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