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US: Treasury Refunding Announcement
Highlights
US TSY QUARTERLY REFUNDING: OFFERS $125 BLN TSY SECURITIES TO REFUND $90.2 BLN NOTES/BONDS RAISING $34.5 BLN IN NEW CASH
US TSY QUARTERLY REFUNDING: OFFERING $58 BLN 3-YR NOTES; $42 BLN 10-YR NOTES; $35 BLN 30YR BONDS
US TSY QUARTERLY REFUNDING: CURRENT AUCTION SIZES 'WELL POSITIONED;' ANTICIPATES NO CHANGES 'FOR SEVERAL QUARTERS'
US TSY REFUNDING: MONITORING 'GROWING DEMAND' FOR TREASURY BILLS; TO MAINTAIN TIPS AUCTIONS AT CURRENT LEVELS
US TSY REFUNDING: MAINTAINING BILLS AT CURRENT EVELS INTO MID MARCH; REDUCING BT LATE MARCH BT UP TO $300 BLN ANTICIPATING TAX RECEIPTS
US TSY REFUNDING: NO SIGNIFICANT CHANGES TO BUYBACK SCHEDULE; CASH BALANCE MAY PEAK ABOVE $1 TLN TEMPORARILY MID-LATE APR DUE TO TAX RECEIPTS
SENIOR US TSY OFF'L: WELL POSITIONED TO HANDLE ANY REPERCUSSIONS OF SUPREME COURT RULING ON TARIFF AUTHORITY
Definition
Each quarter the U.S. Treasury announces its funding needs for the next two quarters. The announcement includes which securities will be offered and the dates of their announcement, auction and settlement.
Description
Bond market players pay attention to this release so that they know the degree of looming supply of Treasuries coming onto the market so that they can evaluate what appropriate yields might be for trading. Heavy supply coming onto the market suggests higher yields.