Quarterly refunding announcement
- To auction $26 billion in 3-year notes vs $24B prior
- $24 billion in 10-year notes vs $23B prior
- $16 billion in 30-year notes vs $15B prior
- Total adjustments amount to $42 billion of new issuance
The market wasn't sure where in the curve the Treasury would be selling more debt in order to cover the expected rise in the deficit. It's the first raise in sales since 2009.
