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J.P.Morgan Quarterly Refunding Expectations

US TSYS

Ahead of Wednesday's quarterly refunding announcement J.P.Morgan note that they "expect Treasury to announce $54bn 3-year notes, $41bn 10-year notes, and $27bn 30-year bonds for auction next week, with the 3-year auction $2bn larger than last month and the 10- and 30-year auctions $3bn and $1bn larger, respectively, than the last new-issue auctions in August. We think the 3-, 10-, and 30-year rolls should open at +0.5bp, +2.75bp, and +0.5bp, respectively."

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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