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Steady Coupon Sizes In July... (1/3)

US TSYS/SUPPLY

As we write in our July US Treasury Issuance Deep Dive, and as indicated back at May's refunding announcement, July's coupon Treasury issuance is set to be unchanged from June's schedule, with a total of $222B on offer over the course of the month.

  • New 10Y TIPS and 2Y FRN represent June’s non-coupon sales.
  • July's sales begin this week with $40B of 3Y note (Jul 11), $32B of 10Y Note (Jul 12), and $18B of 30Y Bond (Jul13), with $12B of 20Y Bond (Jul 19) and $17B 10Y TIPS (Jul 20) next week, and wrapping up the quarter the following week with $42B of 2Y Note (Jul 24), $43B of 5Y Note (Jul 25), $17B of 2Y FRN (Jul 26), and $35B of 7Y Note (Jul 27).
  • The auction cycle then restarts on Aug 8.
  • MNI’s Treasury / Bill issuance calendar is regularly updated at this link.

Source: MNI

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