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Any particular situations which can lead to this?

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  • $\begingroup$ They are considered to be more financially stable that the US government. They are considered to have lower volatility than US treasuries thus a lower risk premium. They are smaller quantities of the issues and greater demand leading to higher prices and lower yields. $\endgroup$
    – Attack68
    Commented Sep 29, 2023 at 8:46

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I can’t find any today. Johnson and Johnson is rated AAA and the 10yr yield is Treasury +29bp. There may have been a time during the debt ceiling drama where very short dated corporate paper traded better than Treasury bills, since the latter were potentially subject to a payment delay.

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