US Treasury Announces Plans to Increase Bond Sales Amid Rising Debt and Rates

The U.S. Department of the Treasury plans to offer $112 billion of Treasury securities to refund maturing notes and raise new cash from private investors. The securities include a 3-year note, a 10-year note, and a 30-year bond, which will be auctioned on specific dates in November. The Treasury intends to gradually increase coupon auction sizes in the upcoming quarter and continue evaluating adjustments based on borrowing needs. They also plan to increase auction sizes for 2-year, 5-year, 7-year, 10-year, and 30-year securities. Additionally, the Treasury plans to maintain TIPS auction sizes and implement modest reductions to short-dated bill auction sizes. They are actively evaluating the implementation of a regular buyback program in 2024.