Treasury Does Not Expect to Boost Auction Sizes for ‘Next Several Quarters’

Published on July 31, 2024

The U.S. Department of the Treasury does not expect to boost the issuance of short- and long-term debt securities for “several quarters,” dismissing potential risk amid the vast budget deficit. Ahead of next week’s quarterly refunding auction, Assistant Secretary for Financial Markets Josh Frost announced that the department will offer $125 billion of government bonds to raise a fresh injection of cash. Treasury officials will auction three-year notes totaling $58 billion. They will also sell 10-year notes in the amount of $42 billion while issuing 30-year bonds worth $25 billion. The department thinks that present auction sizes will be enough to address possible adjustments to the fiscal outlook and throughout the duration of the Federal Reserve’s balance sheet-reduction efforts....

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