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In the wake of the quarterly refunding......>

US TSYS
US TSYS: In the wake of the quarterly refunding announcement from the U.S. Tsy
Goldman Sachs noted that the "treasury plans to ramp up issuance of 5-year notes
along with 2 and 3-year notes and has indicated net bill issuance will increase
over the next couple of months somewhat more than we had expected. The announced
coupon increases look sufficient to cover most of the financing need we project,
assuming additional funding through net bill issuance, suggesting that future
refunding announcements could increase coupon auction sizes at a slower pace
than the Treasury has so far this year."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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