November 1, 2023

The Treasury Department announced plans Wednesday to accelerate the size of its auctions as it looks to handle its heavy debt load and with financing costs rising.

In a development getting close attention on Wall Street, the department detailed its refunding plans for future debt sales. The announcement comes with Treasury yields around their highest levels since 2007, a reflection of financial markets spooked over how much damage higher borrowing costs could exact.

Most immediately, the Treasury will auction $112 billion in debt next week to refund $102.2 billion of notes set to mature Nov. 15, raising more than $9 billion in extra funds.

Read more:

https://www.cnbc.com/2023/11/01/treasury-details-plans-to-step-up-size-of-bond-sales-to-manage-growing-debt-load-and-higher-rates.html