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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.
US TSYS/SUPPLY
Treasury has announced a surprise jump in Bill sizes (all settle Oct 3):
- $80B to $85B for 4 week (auction Sep 28)
- $70B to $75B for 8 week (auction Sep 28)
- $50B to $52B for 17 week (auction Sep 27)
- It's hard to get estimates on individual issue size increases but Wrightson ICAP for one expected bill sizes to remain unchanged today and expected them to be on hold in general in the near term. However it's a potential sign that revenues in the September tax date were softer than expected, potentially increasing the desire to up bill sizes.
- This will mark the biggest size yet for the 8W bill ($70B had been joint-highest with May 2020 sales post-pandemic), though the 4W's peak had been $90B in 2020. See chart.
4/8/17 Week Bill Sizes $BSource: BBG, US Treasury
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.
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