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MNI BRIEF: US Treasury Flags Modestly Higher Auctions in Aug

The U.S. Treasury announced Wednesday it would keep nominal coupon auction sizes in the upcoming quarter unchanged and said it may need to modestly increase auction sizes later this year, potentially as soon as August.

The department said it will issue USD96 billion of securities at next week's quarterly refunding, and raising USD20.8 billion in new cash. Officials say they plan to sell USD40 billion in 3-year notes on May 9, USD35 billion in 10-year notes on May 10, and USD21 billion in 30-year bonds on May 11.

The Treasury Department said that until the debt limit is suspended or increased, debt limit-related constraints will lead to greater than-normal variability in benchmark bill issuance and significant usage of CMBs.

Anticipated Auction Sizes (billions USD)

Source: Treasury Department

MNI Washington Bureau | +1 202-371-2121 | evan.ryser@marketnews.com
MNI Washington Bureau | +1 202-371-2121 | evan.ryser@marketnews.com

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