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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
The U.S. Treasury said Wednesday it would gradually increase nominal coupon auction sizes in the November, December and January with more moderate increases at the longer-end of the yield curve. It also anticipates one more quarter of further gradual increases to meet borrowing needs.
The department will issue USD112 billion of securities at next week's refunding, raising USD9.8 billion in new cash. Officials plan to sell USD48 billion in 3-year notes on November 7, USD40 billion in 10-year notes on November 8, and USD24 billion in 30-year bonds on November 9.
Treasury said it expects to maintain bill auction sizes at current levels into late November. Treasury anticipates by early December making modest reductions to short-dated bill auctions that will be maintained through mid- to late-January. Treasury is still evaluating whether to change the 6-week CMB to benchmark status.
The agency said it is making "significant progress" on plans to implement a buy back program next year and at the next quarterly refunding will provide an update on timing.
Anticipated Auction Sizes (billions USD)
Source: Treasury Department
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.