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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
US TSYS/SUPPLY
Treasury lowered the size of the 4-week bill auction size by $5B to $80B for next week's sale, while keeping the 8-week and 17-week steady.
- This is only a very mild surprise given Treasury's signal at the November refunding that it would start making "modest reductions" back on bill sizes, focused on short-dated paper, though the cutbacks are lower than the larger ones announced last week.
- With its 2nd reduction in as many weeks, the 4-week bill size reverts to levels last seen in September, and will be the same size as the 8-week for the first time since just before the debt limit was lifted in June. See chart below.
Next week's bill sales (all settle Dec 5):
- $56B 17W Bill - Nov 29 auction
- $80B 4W Bill - Nov 30 auction
- $80B 8W Bill - Nov 30 auction
Source: BBG, Treasury, MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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