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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
Somewhat overshadowed by a speech by Fed Gov Waller which was released simultaneously, Treasury announced an upsizing of the 4-/8-week bills (+$5B each) and 17-week bills (+$2B) at the upcoming auctions Wednesday and Thursday.
- This was only a modest surprise, with some speculation about potential upsizing at either this or another round of bill auctions ahead due to tax season timings. Instead of raising $6B in cash upon settlement on Tuesday Jan 23 if they had been left unchanged, these bill auctions will now raise $18B.
- It's fairly widely expected that there will be more increases to bill sizes in the coming weeks. All else being equal, this could help reduce the size of the ON RRP facility a little more quickly as Treasury raises cash.
- Recall the 4-/8-week bills had been reduced in size in November following the last quarterly refunding announcement.
Upcoming bill announcements:
- 4W Bill $85B (+$5B), auction Jan 18
- 8W Bill $85B (+$5B), auction Jan 18
- 17W Bill $58B (+$2B), auction Jan 17
Source: BBG
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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