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$70 Billion In 3, 10 And 30 Year Coupons On Deck

Courtesy of Tyler Durden

The US Treasury has announced its coupon issuance timetable for next week. The US will auction off a total of $70 billion in 3, 10 and 30 years next week. In a surprising move, this number is more than a 10% decline from like issuance in the last month: the last pair of 3-10-30 raised a total of $78 billion. Is the US Treasury seriously “telegraphing” that the budget deficit situation is under control? What happens when the cash crunch gets acute again courtesy of half a trillion in Bill redemeptions this month and issuance has to work overtime just to catch up. This seems like a very foolhardy move.

 

 

 

 

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