…As Treasury Announces MORE Auctions AND A 2-Month T-Bill (Dollar Continues To Decline In Purchasing Power)
According to the Treasury Advisory Committee (TBAC),
- Over the next three months, Treasury anticipates increasing the sizes of the 2-, 3-, and 5-year note auctions by $1 billion per month. As a result, the size of 2-, 3-, and 5-year note auctions will increase by $3 billion, respectively, by the end of October.
- In addition, Treasury will increase the auction size of the next 2-year FRN auction by $1 billion in August.
- Finally, Treasury will increase auction sizes by $1 billion to each of the next 7- and 10-year notes and the 30-year bond auctions in August, and hold the auction sizes steady at that level through October.
Not surprising given Washington DC endless appetite for spending.
The 10-year Treasury Note yield just broke through 3% … again.
Global 10-year yields are up across the board (except for Greece).
And the US CPI Urban Consumers Purchasing Power of Consumer Dollar NSA 1967=100 keeps falling since the creation of The Federal Reserve in 1913.d
Here is a closer look at the last 5 years of consumer purchasing power.
For an interesting take on The Fed, see Jesse’s Cafe Americain.
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