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U.S. Plans Record Debt Sale; No Big Changes Before New Stimulus

  • Treasury boosts auction sizes for inflation-linked securities
  • Quarterly refunding auctions to total $126 billion next week
A statue of Albert Gallatin, former U.S. Treasury secretary, stands outside the U.S. Treasury building in Washington, D.C.

A statue of Albert Gallatin, former U.S. Treasury secretary, stands outside the U.S. Treasury building in Washington, D.C.

Photographer: Andrew Harrer/Bloomberg
Updated on

The U.S. Treasury held steady its planned issuance of longer-dated securities at a quarterly debt auction next week as the department awaits the result of the Biden administration’s push for a fresh coronavirus relief package.

The Treasury already boosted its so-called quarterly refundings in each of the last three quarters, and its stockpile of cash remains near an all-time high. With the outcome of President Joe Biden’s push for a $1.9 trillion stimulus bill uncertain, the department held off on tweaking its issuance of longer-dated securities.