Treasury bonds

The U.S. Treasury expanded its plans for the issuance of longer-term debt in coming months, after depending mainly on shorter-dated bills to fund the federal government’s record spending surge to address the COVID-19 crisis.

The rating agency affirmed the U.S. at AAA but said the outlook cut reflects ongoing deterioration in U.S. public finances.

The Financial Stability Board issued a statement April 2 affirming that it is sticking with plans to transition away from Libor by the end of 2021.

The Federal Reserve has been proactive and the secondary market could be next up for assistance.

The primary market remained mostly on the sidelines with issuers slow to jump back into coronavirus-driven volatility while also awaiting Fed engagement.

Rep. Peter DeFazio said gas tax revenue could finance $500 billion in Treasury bonds.

Tradeweb ICE U.S. Treasury Closing Prices is designed to represent the daily market mid-price for Treasury securities.

MarketAxess Holdings will buy LiquidityEdge for $150 million.

The U.S. Treasury Department announced plans to maintain record debt sales.

Treasury Secretary Steven Mnuchin warned that the U.S. government will face a default in “late summer” unless Congress increases the debt ceiling.