Wednesday, February 4, 2009

$67 Billion in Government Auctions Next Week

The Treasury will try to slide a massive $67 billion in long-term debt next week. Not only that, but apparently it is reincarnating the 7-Year Note, which it will start using later on in February and throughout the year.

The specifics of the Auction are:

$32 billion in 3-Years on February 10
$21 billion in 10-Years on February 11
$14 billion in 30-Years on February 12

And this very ominous warning in the Treasury's press release:
Based on current projections, Treasury expects to reach the debt ceiling in the first half of 2009. Given the uncertainty surrounding potential borrowing needs, Treasury will continue to keep Congress and the markets apprised of developments as the debt outstanding approaches the statutory limit.

Here is the tentative full schedule of upcoming auctions. Be patient with the download - there is a lot of them.

Sphere: Related Content
Print this post