US Treasury advisory committee warns on debt ceiling in quarterly refunding announcement

• Treasury to sell $40B in 3 years, $35B in 10 years and $21B in 30 years next week
• To keep nominal coupon and floating rate new issue sizes
• Could modestly raise auction sizes later this year, possibly as soon as August
• Anticipates greater than normal variability in benchmark bill issuance and significant use of cash management bills until debt limit suspended or increased
• Failure to raise or suspend debt ceiling with all due haste is reckless and is already disrupting Treasury market functioning

• The Treasury Department said they plan to implement a program in early 2024, and the details of the buyback program will be finalized over the balance of 2023.

  The debt ceiling fiasco isn't helping the mood in markets this week.

/US dollar US Dollar The US dollar, (symbol $, code USD) is the fiat currency of the United States of America (USD) and the most widely traded currency globally. It was introduced into the US in the late 18th Century, with paper notes not being distributed until the following century. The US dollar, also informally known as the greenback, is the world’s most foremost reserve currency, due in large part to the importance of the US economy on the world stage. Once backed by gold (in the 1900’s), the USD is now a purel The US dollar, (symbol $, code USD) is the fiat currency of the United States of America (USD) and the most widely traded currency globally. It was introduced into the US in the late 18th Century, with paper notes not being distributed until the following century. The US dollar, also informally known as the greenback, is the world’s most foremost reserve currency, due in large part to the importance of the US economy on the world stage. Once backed by gold (in the 1900’s), the USD is now a purel Read this Term