Treasury announced a $92 B 3-pronged package of coupon sales
Treasury announced a $92 B 3-pronged package of coupon sales for next week, a $4 B increase over the January volume, as the debt managers indicated. This includes a $28 B 2-year auction (Tuesday), increased from $26 B, along with a $35 B 5-year (Wednesday) and a $29 B 7-year (Thursday), with the latter two increased by $1 B each. Additionally, Treasury outlined a $15 B 2-year FRN reopening (Wednesday), unchanged from January's new issue. Also, the 3- and 6-month bills (Monday) were boosted to $96 B, up $6 B from the prior weeks, split equally between the two tranches. A $55 B 4-week bill sale (Tuesday) was detailed, and is a $5 B increase from this week's volume, which was boosted by $35 B from the February 5 week. The increases were well anticipated, as noted above, and yields are little changed to lower, but the Treasury market may have a hard time digesting the $258 B total in bills and coupons.