The Treasury Department announce Wednesday it will pay down $3.2 billion of debt with it quarterly refunding, selling $16 billion 30-year bonds, $24 billion 10-year notes and $24 billion three-year notes.
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Auctions will be Tuesday for the three-years, Wednesday for the 10-years and the 30-years will be auctioned on Thursday. All issues will settle Aug. 17.
If adjustments are needed as a result of the statutory debt limit, the changes will be made in T-bill issuance, according to a Treasury official, who noted cash balances will, in normal circumstances, have a minimum $150 billion level, but should average $200 billion to $225 billion. Again, with the debt limit deadline, the minimum level will not be able to be maintained.
