May 24 (Reuters) – Yields on some Treasury bills that are due to be repaid in early June jumped to over 7% on Wednesday as investors shunned debt that is a risk of not being repaid if the U.S. Treasury Department runs out of cash.

The yields on bills due on June 1 were last at 7.198%, and briefly got as high as 7.310%. That is up sharply from Tuesday’s close of 5.992%. Other bills due on June 6 also rose as high as 7.119%.

Some investors are avoiding bills that come due in June in case the U.S. debt limit is not raised. (Reporting By Karen Brettell Editing by Chris Reese)

And gold goes below 1943 at this minute.

Which is the greater Kabuki theater? Debt ceiling or gold slamming?