- Treasury announces quarterly refunding of longer-term debt
- Nominal coupon issuance to climb $132 billion over quarter
The U.S. government will push its fundraising to new extremes this quarter to cope with a budget deficit unseen since the country mobilized to fight World War II.
The Treasury expanded its plans for borrowing at longer maturities in the coming months, saying Wednesday it will sell a record $112 billion of securities at next week’s so-called quarterly refunding of maturing Treasuries. Over the three months through October, it will boost its offering of notes and bonds by a total of $132 billion compared with the previous quarter, and rely more heavily on securities due in seven to 30 years.
Emily Barrett & Jenny Leonard | Bloomberg