The Treasury Department yesterday said it will sell $75 billion of securities to raise $14.1 billion and refund about $60.9 billion of privately held securities maturing on Aug. 15.

The Treasury said it will auction $15 billion of 30-year bonds on Aug. 13, $23 billion of 10-year notes on Aug. 12, and $37 billion of three-year notes on Aug. 11. All auctions will take place at 1 p.m. EDT and settle on Aug. 17.

The Treasury said the balance of its financing requirements will be met with weekly bills and monthly 52-week bills; monthly two-, three-, five- and seven-year notes; the September and October 10-year note and 30-year bond reopenings; and the October five-year and 10-year TIPS reopenings.

The Treasury said it will consider replacing 20-year TIPS with 30-year TIPS, with an announcement being made at the November 2009 refunding, scheduled for Nov. 4.

The Treasury will also issue cash management bills, some longer dated, during the quarter.

In a statement, the Treasury said it believes “our existing suite of nominal securities is sufficient to address our borrowing needs; however, market participants should expect auction sizes to continue to rise in a gradual manner over the medium term. In addition, to increase our flexibility, issuance of Treasury inflation-indexed securities will also increase gradually.”

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