Those are some of the highest levels since the early 2000s, and are better returns than those on longer-duration Treasury notes like the 2-year and the 10-year , and Treasury bonds like the 30-year .
So in this case, you'd have $1,000 in each the 1-month, the 2-month, the 3-month, the 4-month, the 6-month, and the 1-year. When each month passes and one of your bills reaches maturity, you can then take the principal along with your interest earned and plug it back into another bill. After the second month passes, you would then get back your $1,000 principal on the 2-month bill as well as the $9.01 coupon from the 5.41% annualized interest rate. You could then re-invest that money like you did after the first month, or pocket it if you needed to. This process would repeat each time a bill matured.
At the same time, rising rates mean falling prices, so investing in multiple very-short-duration bills allows you to hedge downside risk because you only have to wait a matter of weeks to get your cash back.