The US Treasury has embarked on some of its biggest ever sales of government debt, with investor demand meeting the 10-year note issuance on Wednesday (7 February).
On 31 January, the Treasury released its Quarterly Refunding Statement, which announced it would be offering record sales to refund approximately $105.1bn of privately-held Treasury notes maturing on 15 February 2024. According to the Treasury, this issuance will raise new cash from private investors of approximately $15.9bn. The move will involve a triple phased sale of 3-, 10- and 30-year notes this month, totalling $121bn overall. The 3-year notes were sold for the amount of $54bn, maturing 15 February 2027, a 10-year note for $42bn which matures on 15 February 2034; and finally a ...
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