Cites lower beginning of quarter balance
The U.S. Treasury expected to borrow much greater than expectations amount in the quarter from October to December.
The treasury is estimating that they will issue US $1.015 trillion in net marketable debt from October to December. That is up from and estimate of $703 billion in August.
The treasury says the increase is due to a lower beginning of quarter balance.
From January to March 2022 the treasury is expected to issue 476 billion in net marketable securities assuming an end of March cash balance of $650 billion.
The 10 year yield has did move up to 1.582% after trading as low as 1.561% earlier. The 100 hour moving averages at 1.584%. Moving above would put upward pressure technically on the yield.
