NEW YORK – The Treasury Department will sell $78.0 billion to raise $47.1 billion with its quarterly refunding, Treasury announced today.
Treasury will sell $38 billion 3-year notes on May 11, $24 billion in 10-year notes on May 12 and $16 billion in 30-year bonds on May 13.
Treasury also said it will add a second reopening to its 10-year Treasury Inflation Protected Securities starting with the July note. The July new issue will be reopened in September and November. The January 2011 new issue will be reopened in March and May 2011.
Treasury "expects to gradually decrease coupon auction sizes," retaining the flexibility to do so across the nominal yield curve.
Treasury is expected to offer cash management bills during the quarter.
The third quarter refunding announcement will be Wednesday, August 4, 2010.
