NEW YORK – The Treasury Department said Wednesday it will refund $72 billion in securities to raise 50.2 billion.
Treasury said it will sell $32 billion three-year notes on Tuesday February 8, $24 billion in 10-year notes on Wednesday February 9 and $16 billion in 30-year bonds on Thursday February 10. Settlement for these issues is February 15.
The Treasury also said it expects to reach the debt limit sometime between April 5 and May 31 of this year.
Coupon auction sizes will be kept steady during the quarter and Treasury said it will meet additional borrowing needs through bill issuance. Cash management bills are also expected during the quarter.
Treasury will issue a final rule by the end of March setting a "minimum coupon interest rate of 1/8 of 1% for all new inflation-protected and nominal securities." The rule is being modified to avoid zero coupon auctions.
Treasury estimated Monday it will borrow $237 billion in the quarter and end with a $65 billion cash balance, which includes $5 billion for the Supplementary Financing Program (SFP).
