US Treasury to at least double long-bond buybacks…T-bill issuance outlook turns complicated

1. 1US Treasury expands long-bond buybacks, complicating outlook for short-term securities such as T-bills used to fund the effort
2. 2Buybacks at least doubled within two weeks after quarterly refunding, with no cap…Wells Fargo estimates $32 billion per quarter
3. 3Additional $12 billion in T-bills by Nov. 5, then $16 billion per quarter…small relative to total monthly volume of about $2.25 trillion

Source Bloomberg · View original ↗

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