(Bloomberg) — The US Treasury left its quarterly issuance of longer-term debt unchanged for the second straight time, and maintained its guidance that it doesn’t expect to need increasing issuance of notes and bonds for “several quarters.”
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The Treasury Department said in a statement Wednesday it will sell $125 billion of securities at its so-called quarterly refunding auctions next week, which span 3-, 10- and 30-year maturities. Dealers had widely predicted that outcome, seeing the department as able to make up any funding shortfalls over the period via more bill sales.
A number of market participants had seen some risk that the Treasury would revise its guidance to incorporate the potential for increasing issuance of longer-dated securities, given the outsize federal budget deficit. But the department reiterated its May language.
“Based on current projected borrowing needs, Treasury does not…
