MW: Treasury to auction $55 billion in notes, bonds next week
By Greg Robb
WASHINGTON (MarketWatch) - The Treasury Department will auction $55 billion in notes and bonds next week in its quarterly refunding auctions, the government said Wednesday. The department will auction $25 billion in a new 3-year note, $20 billion in 10-year notes and $10 billion in 30-year bonds to refund $54.9 billion in maturing securities and raise approximately $100 million. The rest of the government's record $550 billion financing requirements will be met with weekly bills, monthly 2-year, 3-year and 5-year notes and other instruments, Treasury said. The government expects to issue cash management bills. Over the last several months, it has become clear that the U.S. may have to issue more than $1 trillion in debt during the current fiscal year. As a result, Treasury will issue a new monthly 3-year noted, a regular second reopening of quarterly 10-year notes and quarterly issues of 30-year bonds beginning in February 2009.
