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US Treasury Auction Calendar
Treasury's quarterly Refunding announcement was largely in line with MNI's expectations:
- Expected nominal coupon sizes were left unchanged across the board for the coming quarter (see table below).
- 20Y Note sizes were maintained, though there had been some anticipation that they could be pared. (20s underperformed in the aftermath of the announcement.)
- TIPS and FRN sizes were left mostly unchanged, with the notable exception of the 5Y TIPS re-open in December which has been upsized by $1B to $19B. MNI had anticipated a potential uptick in TIPS sizes.
- Buybacks were on the agenda, but still in the early phases: ""Treasury expects to share its findings on buybacks as part of future quarterly refundings. Treasury has not made any decision on whether or how to implement a buyback program but will provide ample notice to the public on any decisions."
|31-Oct||1130ET||$57B||13W Bill||(912796XT1), 4.07%|
|31-Oct||1130ET||$45B||26W Bill||(912796YW3), 4.44%|
|1-Nov||1130ET||$34B||52W Bill||(912796YT0), 4.505%|
|2-Nov||1130ET||$33B||17W Bill||(912796Y86), 4.280%|
|17-Nov||1300ET||TBA||10Y TIPS Re-open||10-Nov|
|22-Nov||1130ET||TBA||2Y Note FRN R/O||17-Nov|
|12-Dec||1300ET||TBA||10Y Note Reopen||8-Dec|
|13-Dec||1300ET||TBA||30Y Bond Reopen||8-Dec|
|21-Dec||1300ET||TBA||5Y TIPS Reopen||15-Dec|
|22-Dec||1300ET||TBA||20Y Bond Reopen||15-Dec|
|28-Dec||1130ET||TBA||2Y Note FRN R/O||22-Dec|
|11-Jan||1300ET||TBA||10Y Note Reopen||5-Jan|
|12-Jan||1300ET||TBA||30Y Bond Reopen||5-Jan|
|18-Jan||1300ET||TBA||20Y Bond Reopen||12-Jan|
|25-Jan||1130ET||TBA||2Y Note FRN||19-Jan|
|22-Feb||1130ET||TBA||2Y Note FRN R/O||16-Feb|
|8-Mar||1300ET||TBA||10Y Note R/O||2-Mar|
|9-Mar||1300ET||TBA||30Y Bond R/O||2-Mar|
|21-Mar||1300ET||TBA||20Y Bond R/O||16-Mar|
|23-Mar||1300ET||TBA||10Y TIPS R/O||16-Mar|
|29-Mar||1130ET||TBA||2Y Note FRN R/O||23-Mar|
|12-Apr||1300ET||TBA||10Y Note R/O||6-Apr|
|13-Apr||1300ET||TBA||30Y Bond R/O||6-Apr|
|19-Apr||1300ET||TBA||20Y Bond R/O||13-Apr|
|26-Apr||1130ET||TBA||2Y Note FRN||20-Apr|
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