NEW YORK – The Treasury Department will offer $72 billion of securities that will raise new cash: $32 billion of three-year notes on Tuesday, $24 billion 10-year notes on Wednesday; and $16 billion 30-year bonds on Thursday.
The three-year notes mature May 15, 2014, the 10-years May 15, 2021, and the 30-years on May 15, 2041. The settlement date for all three auctions is Monday, May 16, 2011.
The balance of Treasury financing requirements will be met with regular weekly bill auctions, the regular monthly nominal coupon security auctions, the May 10-year TIPS reopening, the June 30-year TIPS reopening auction and the July 10-year TIPS auction.
Cash management bills may also be issued.
Treasury expects nominal coupon auction sizes to remain steady in the upcoming quarter.
Treasury said, “if Congress does not act to raise the debt limit by May 16, Treasury will employ other measures used in the past to give Congress additional time to act and to protect the creditworthiness of the country.”
The next quarterly refunding announcement will take place on Wednesday, August 3.
