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 30-year bond of $25bn, maturing 15 February 2054.
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The 3-year note was auctioned at 1pm ET on 6 February, with the following two sales occurring individually on the following two consecutive days, respectively. All of these auctions will take place on a yield basis and will settle on 15 February.
The…
