According to treasury.gov, the "coupon equivalent" for a 1 month (4 weeks) T-Bill issued today is 0.99%.
I happened to have purchased a 1 month T-Bill today for $99.9246. By my calculation that means that the return will be .075% (.0754/99.9246) for the month. That leads me to believe that quoted coupon equivalent of 0.99% is actually annualized despite the fact that the T-Bill is only 1 month.
Is that correct?