Treasury Action: Tsy Sec Mnuchin reportedly asked for debt limit raise
Treasury Action: Tsy Sec Mnuchin reportedly asked for debt limit raise by the end of February, according to Bloomberg citing two sources familiar with the process. The debt limit was suspended in September until December 8, and since the reinstitution of the ceiling, the Treasury has been using extraordinary measures to remain in compliance. The current continuing resolution expires on the 19th. If Congress can't agree, the government likely will have to delay paying benefits and shut various programs, including parks and museums. It's estimate the Treasury has enough maneuvering room until early to mid- April. Currently it's the April 12 bills which are underperforming with the rate up nearly 3 bps to 1.408%, while the wi bill is over 5 bps higher at 1.425% on fears the auctions could be disrupted.