NEW YORK - The Treasury Department said it will auction $35 billion five-year notes on Wednesday, July 27 and $35 billion two-year notes on Tuesday, July 26.
The five-years settle Aug. 1 and are due July 31, 2016.
The two-years settle Aug.1 and are due July 31, 2013.
The Federal Reserve holds $2.948 billion of Treasury notes in the System Open Market Account, which may be refunded.
"I don't mind owning a railroad for $2.4 billion," said Assured CEO Dominic Frederico.
Northwest Nazarene University, an Idaho private Christian college, had its ratings outlook revised to positive.
Munis should do "relatively well" this month, as investors will "focus on heavy summer redemptions; tax-exempt supply should remain healthy but is unlikely to overwhelm," said Barclays strategists.
The Manhattan-based Ivy League university reached a settlement with the federal government last year. It is selling $487 million of bonds this month.
"The rates market has started to turn from the upper end of the trading range this week," Barclays strategists wrote, but with the war with Iran still driving the market, nothing is certain.
Changes in federal funding are sharpening the focus on how the states will be responding to disaster relief, running social programs and budget planning.
