The Treasury Department yesterday said it will sell $22 billion of securities and pay down $32.458 billion with its quarterly refunding.

Treasury said it will sell $13.0 billion of 10-year notes on Feb. 6 and $9 billion of 30-year bonds on Feb. 7. The issues settle on Feb. 15.

On Monday, Treasury estimated it would borrow $156 billion in the first quarter, ending with a $25 billion cash balance on March 31. The estimates for the second quarter are a $122 billion paydown and a $45 billion ending cash balance.

Treasury is expected to offer cash management bills in February, March, and April.


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