Washington/New York — The US treasury department said it would maintain the issuance of longer-term debt for the sixth straight quarter at $62bn, and predicted borrowing needs would increase in coming quarters. The department will sell $24bn in three-year notes on August 8, $23bn in 10-year notes on August 9 and $15bn in 30-year bonds on August 10, it said on Wednesday in its quarterly refunding announcement of longer-term debt sales. The auctions will raise about $14.7bn in new cash. On future borrowing, the treasury said it would increase bills and nominal coupon sizes to address needs as the Federal Reserve begins to shrink its balance sheet, without giving specifics. The borrowing committee, known as TBAC, and treasury agreed on possibly making a decision as early as the next refunding in November, over how to offset the US Federal Reserve’s planned unwinding. The treasury also has possible increased borrowing needs as budget deficits are projected to increase, though treasury n...
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