The US Treasury Department said that it would hold borrowing steady instead of cutting federal capacity like it did earlier in the year, on Wednesday.
An official confirmed that the Treasury is satisfied with the current level of funding because finances have improved in past year which can be attributed to higher tax raters.
$27 billion would be auctioned in three year notes on August 12th, $24 billion in ten year notes on August 13th and $16 billion in 30 year bonds on August 14th with the auctions settling on August 15th. Over the past year the Treasury maintained the practice of reduced auctions of two and three year notes and as a result reduced borrowing by $72 billion on an annualized budget. Bills, notes and bonds are sold by the Treasury to finance government operations.
The Treasury also expressed that it would conduct a “small scale” bond buyback so it can test out its technology systems. Officials seemed certain that this test isn’t intended to signal any future changes in the Treasury’s use of buybacks.
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