MNI: US Tsy's $84.0 Bln Refunding To Raise $28.6 Bln Cash

     WASHINGTON (MNI) - The Treasury Department's May quarterly refunding of

$84.0 billion will raise $28.6 billion new cash, Treasury announced Wednesday.

     For May, the Treasury Department said it will sell $38 billion 3-year notes

on May 7, $27 billion 10-year notes on May 8, and $19 billion 30-year bonds on

May 10. These issues settle on May 15.

     The Treasury it expects the size of its coupon and FRN issuance to remain

steady over the remainder of FY 2019. 

     It anticipates keeping the May 10-year TIPS auction size at the previous

amount, raising the June 5-year TIPS reopening to $15 billion, and raising the

size of the July 10-year TIPS to $14 billion. 

     Treasury expects the size of bill issuance to decline gradually over the

remainder of the second quarter due to tighter constraints from the debt limit.

Treasury encouraged Congress to take up the debt limit issue, as extraordinary

measures taken by Treasury since March 1 will run out in the second half of the

year.

     Treasury said that it expects the issuance plans announced today are

suitable to meet borrowing needs through the end of the fiscal year.

--MNI Washington Bureau; tel: +1 202-371-2121; email: kevin.kastner@marketnews.com

[TOPICS: MNUAU$,M$U$$$,M$$FI$]