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

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."