Home > Article
VOL. 38 | NO. 31 | Friday, August 1, 2014
Gov't to sell $67B in Treasurys next week
WASHINGTON (AP) — The government says it will sell $67 billion in Treasury securities next week as part of its regular quarterly refunding auctions.
The Treasury Department also announced Wednesday that it will buy back a small amount of securities from market dealers in the fourth quarter to test the computer systems for such transactions.
Treasury said it will sell $27 billion in 3-year notes, $24 billion in 10-year notes and $16 billion in 30-year bonds in the auctions next Tuesday, Wednesday and Thursday.
The money raised would be part of the $192 billion that Treasury expects to borrow in the July-September quarter to keep the government operating. That amount is $22 billion higher than previous estimates. The government is borrowing less than in recent years, however, as the economy has recovered and tax revenues have increased.
The government ran a budget surplus of $71 billion in June, putting it on course to record the lowest annual deficit since 2008. The June surplus followed a $130 billion deficit in May.
The Congressional Budget Office is forecasting a deficit of $492 billion for the full budget year ending Sept. 30. That would be the narrowest gap since 2008.
The remainder of Treasury's borrowing needs for the current quarter will be met with weekly bill auctions, monthly note and bond auctions, sales of Treasury inflation-protected securities, called TIPS, and monthly auctions of a security with variable interest rates which the government began offering this year.