Wednesday, November 5, 2008
The Treasury said on Wednesday it will resurrect the 3-year note and conduct more frequent auctions of 10-year notes and 30-year bonds to cope with staggering borrowing needs that some market participants say could reach $2 trillion in the current year.
The Treasury said it will sell $55 billion worth of these debt securities next week to refund $54.9 billion in maturing debt.
It said the new 3-year note auctions would be held monthly and it will also move to monthly auctions of 10-year notes, including reopenings. The 30-year bond auctions will be conducted on a quarterly basis instead of twice a year.
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Sources :
- Reuters: Treasury to resurrect 3-year note, November 5, 2008 9:21am EST
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