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MNI: Treasury Says Auctions Well Positioned For Fiscal Outlook

Treasury expects to "modestly" increase the offering size of short-dated bills next week.

USPolicy NewsHomepageFiscalGovernment sectorBriefStoryRegionNorth America

The U.S. Treasury said Wednesday it expects to increase the offering size of short-dated bills next week but will be keeping nominal coupon auction sizes the same, and does not anticipate needing to increase auctions "for at lest the next several quarters."

The department will issue USD125 billion of securities at next week's refunding, raising USD14 billion in new cash. Officials plan to sell USD58 billion in 3-year notes on August 6, USD42 billion in 10-year notes on August 7, and USD25 billion in 30-year bonds on August 8. The agency said current auction sizes leave it well positioned to address potential changes to the fiscal outlook and to the pace and duration of future SOMA redemptions.

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The U.S. Treasury said Wednesday it expects to increase the offering size of short-dated bills next week but will be keeping nominal coupon auction sizes the same, and does not anticipate needing to increase auctions "for at lest the next several quarters."

The department will issue USD125 billion of securities at next week's refunding, raising USD14 billion in new cash. Officials plan to sell USD58 billion in 3-year notes on August 6, USD42 billion in 10-year notes on August 7, and USD25 billion in 30-year bonds on August 8. The agency said current auction sizes leave it well positioned to address potential changes to the fiscal outlook and to the pace and duration of future SOMA redemptions.

Keep reading...Show less