MW: Treasury cuts borrowing for first time in 3 years
By Ben Eisen
NEW YORK (MarketWatch) -- The Treasury Department said Thursday it would borrow $1 billion less in September, marking its first cut to the size of its Treasury auctions since September of 2010, according to Ian Lyngen, senior rates strategist at CRT Capital Group. In offering statements released Thursday, the Treasury Department offered to sell $34 billion of 2-year notes 2_YEAR -0.78% , a cut of $1 billion from previous auctions. However, it left other offerings unchanged, with plans to sell $35 billion of 5-year notes 5_YEAR +0.61% and $29 billion of 7-year notes in September. The shrinking size of the debt sale comes as the U.S. cuts its deficit.
