Free Trial

US Treasury Auction Calendar

US TSYS/SUPPLY: Borrowing Ests $1.6T In Line, Sets Stage For Tsy Upsizing -- Treasury's marketable borrowing estimates for the Oct-Dec 2023 (Q4) and Jan-Mar 2024 (Q1) quarters came in roughly in line with expectations.

  • The 2Q total of $1.592T ($776B Q4, $816B Q1) was in line with MNI's and analysts' estimates, though there had been some lingering concerns about an upside surprise potentially stemming from more pessimistic fiscal expectations or higher-than-expected cash balance targets.
  • The Q4 total was downwardly revised $76B from August's refunding process: that's more or less in line as expected reflecting the timing of tax receipts landing in the quarter (financing requirements dropped $80B total), with the end-Sep TGA cash balance target unchanged at $750B.
  • The Q1 figure was fairly straightforward as well, with the TGA cash balance seen level at $750B, and the $548B estimated financing need in line with expectations.
DateTimeAmtSecurityCusip, Yield
31-Oct1130ET$44B52W Bill(912797HE0), 5.135%
31-Oct1130ET$75B42D Bill CMB(912797FU6), 5.295%
1-Nov1130ET$56B17W Bill(912797JG3)
2-Nov1130ET$95B4W Bill(912797HN0)
2-Nov1130ET$85B8W Bill(912797HX8)
6-Nov1130ETTBA13W Bill(912797GM3)
6-Nov1130ETTBA26W Bill(912797HQ3)
7-Nov1300ETTBA3Y Note(91282CJK8)
8-Nov1300ETTBA10Y Note(91282CJJ1)
9-Nov1300ETTBA30Y Bond(912810TV0)
20-Nov1300ETTBA20Y Bond16-Nov
21-Nov1130ETTBA2Y NOT FRN R/O16-Nov
21-Nov1300ETTBA10Y TIPS R/O16-Nov
27-Nov1130ETTBA2Y Note22-Nov
27-Nov1300ETTBA5Y Note22-Nov
28-Nov1300ETTBA7Y Note22-Nov
11-Dec1130ETTBA3Y Note7-Dec
11-Dec1300ETTBA10Y Note R/O7-Dec
12-Dec1300ETTBA30Y Bond R/O7-Dec
20-Dec1300ETTBA20Y Bond R/O14-Dec
21-Dec1300ETTBA5Y TIPS R/O14-Dec
26-Dec1300ETTBA2Y Note21-Dec
27-Dec1130ETTBA2Y FRN R/O21-Dec
27-Dec1300ETTBA5Y Note21-Dec
28-Dec1300ETTBA7Y Note21-Dec
9-Jan1300ETTBA3Y Note4-Jan
10-Jan1300ETTBA10Y Note4-Jan
11-Jan1300ETTBA30Y Bond4-Jan
17-Jan1300ETTBA20Y Bond R/O11-Jan
18-Jan1300ETTBA10Y TIPS11-Jan
23-Jan1300ETTBA2Y Note18-Jan
24-Jan1130ETTBA0Y Note FRN18-Jan
24-Jan1300ETTBA5Y Note18-Jan
25-Jan1300ETTBA7Y Note18-Jan

To read the full story



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.