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2026-11-04 21:44:26
[US Treasury Adjusts Short-Term Debt Issuance, Quarterly Financing Plans Slightly Adjusted] ⑴ The US Treasury expects to expand the size of short-term Treasury bill auctions in January and reduce the size of short-term Treasury bill auctions in December. ⑵ The Treasury may issue short-term cash management notes in late November to address temporary funding needs. ⑶ The Treasury will convert seven-year auctions to quarterly new issuances and conduct two rollovers. ⑷ The Treasury will maintain the size of TIPS auctions at current levels, and the size of interest-bearing Treasury notes and floating-rate notes auctions is expected to remain unchanged for the next few quarters. ⑸ The Treasury removed the word "at least" from its guidance on maintaining stable auction sizes, a change in wording that has attracted attention. ⑹ The Treasury expects the TGA cash balance to peak at $1.03 trillion in late November and late January. ⑺ The Treasury will continue to evaluate potential improvements to repurchase operations, including the maximum purchase amount. ⑻ The Treasury aims to provide liquidity support through repurchase agreements, with a target size of $70 billion this quarter. ⑼ The Treasury is scheduled to auction $58 billion in three-year Treasury notes on November 9. (10) Overall, the Ministry of Finance has made phased adjustments to the pace of short-term bond issuance while maintaining the stability of the scale of medium- and long-term treasury bond auctions.
