U.S. Treasury Plans Increased Auctions to Fund Looming Trillion-Dollar Deficits

U.S. Treasury Plans Increased Auctions to Fund Looming Trillion-Dollar Deficits

The U.S. Treasury Department will increase issuance of government debt at Treasury auctions by a total of $30 billion over the next three months, introduce a new two-month Treasury bill and consider an additional auction of Treasury Inflation-Protected Securities, or TIPS, all in an effort to help fund looming trillion-dollar government deficits. The Treasury made the announcement Wednesday in Washington as part of its regular schedule of quarterly refunding statements. From August to October, the Treasury will increase the size of its monthly auctions for two-year, three-year and five-year notes by $1 billion a month, continuing a strategy of gradually increasing the size of auctions at the mid-ranges of the debt that Treasury issues.

 

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