The Treasury Department yesterday said it will sell $17 billion of 10-year notes on Aug. 6 and $10 billion of 29-year, nine-month bonds on Aug. 7 as part of its quarterly refunding.
The securities will refund about $43.5 billion of privately held securities maturing or called on Aug. 15 and pay down approximately $16.5 billion.
Treasury said the balance of its financing requirements will be met with weekly bills, monthly 52-week bills, monthly two-year and five-year notes, the September 10-year note reopening, and the October 10-year TIPS and five-year TIPS reopenings.
The department said it expects to issue cash management bills on a monthly basis.
Treasury said it is “considering a second reopening of the 10-year note in the month following the first reopening and moving to quarterly new issue 30-year bond auctions,” with any changes announced at the November 2008 quarterly refunding.
