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Unchanged Auction Sizes, Tsy Still On Course For End-Jun Target


As expected, Treasury will keep June's remaining coupon auction sizes unchanged: $42B 2Y Note Jun 26, $43B in 5Y Note Jun 27, and $22B 2Y FRN / $35B in 7Y Note on Jun 28. Likewise, bill sizes were unchanged: 6W set at $50B (Jun 27), 13W set at $65B (Jun 26), 26W set at $58B (Jun 26).

  • The bills settle on Jun 29, raising a net $76B ahead of large Treasury payments at end-month; the coupons settle on Jun 30 alongside the 20Y sale yesterday and the 5Y TIPS sale today for a total of $67B of net cash raised.
  • The TGA jumped to $327.9B by Monday's close, up $61B on the day and $305B since June 1. That's the first $300+B reading since mid-April, and the $203B in net cash raising (including Bill settlements on Tue Jun 27) next week, plus another $71B of net bills settling today, will go a long way toward reaching the $425B Treasury target for June 30.

Source: Treasury, MNI

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