Investors can't get enough US debt as Treasury bills are bought at a record pace

• In just the past three months, over $1 trillion in new Treasury bills have been purchased.
• Noncompetitive bidders bought a record-high $2.898 billion of six-month bills in mid-August, Bloomberg said.
• That suggests smaller investors are increasingly jumping into the market for short-term US debt.

Investors are scrambling to buy up US debt as the Treasury Department unleashes a flood of short-term bills on the market.

In the past three months, more than $1 trillion in new T-bills have been snapped up as federal deficits have exploded, and smaller investors are increasingly jumping into the market as yields surge past 5%.