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MNI BRIEF: US Treasury Seeks Dealer Comments On Fed QT

(MNI) Washington

Fed asks Primary dealers for outlooks on issuance and QT expectations ahead of quarterly refunding.

The U.S. Treasury on Friday asked its primary bond dealers for their outlook on issuance sizes across the yield curve and expectations for the Federal Reserve's balance sheet reduction process ahead of its next quarterly announcement of financing plans.

Dealers were asked for their expectations for QT with regard to timing, pace, total amounts, and composition, and when Fed redemptions will end. The Treasury also asked dealers about their expectations for the long-run size and composition of the Fed's balance sheet and the future level of reserves. "Is Treasury’s current coupon issuance schedule well positioned to finance additional privately-held net marketable borrowing needs resulting from the SOMA redemptions you expect," the department asked.

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The U.S. Treasury on Friday asked its primary bond dealers for their outlook on issuance sizes across the yield curve and expectations for the Federal Reserve's balance sheet reduction process ahead of its next quarterly announcement of financing plans.

Dealers were asked for their expectations for QT with regard to timing, pace, total amounts, and composition, and when Fed redemptions will end. The Treasury also asked dealers about their expectations for the long-run size and composition of the Fed's balance sheet and the future level of reserves. "Is Treasury’s current coupon issuance schedule well positioned to finance additional privately-held net marketable borrowing needs resulting from the SOMA redemptions you expect," the department asked.

Keep reading...Show less