Economics
Trump’s Debt Binge Puts Treasury Auctions on Path to New Highs
- Dealers see refunding note, bond sales holding at $84 billion
- But bigger coupon sales are ahead, says Stephen Stanley
This article is for subscribers only.
The Treasury Department is expected to hold its quarterly note and bond sales at record levels for the third straight time as Washington’s latest budget deal shows that the U.S.’s debt binge will continue.
President Donald Trump once said he would eliminate the national debt, but now he’s set to approve a budget that will help usher in trillion-dollar annual deficits. In part because of that, Wall Street securities firms predict that a boost in Treasury issuance may be coming in a year’s time.