The Largest Auction Of 10-year Treasuries Ever!
The U.S. is set to sell $26 billion of 2028 notes Wednesday, the largest auction of 10-year Treasuries ever and eclipsing the previous record of $25 billion, first set in 2009. The sale follows last week’s quarterly refunding announcement, which saw the Treasury once again amp up issuance plans to finance the widening federal budget deficit.
The US debt explosion jumped in 2007 and never returned to the old trajectory.
Unfortunately, the Congressional Budget forecasts that budget deficits (spending less tax receipts) are projected to keep rising.
As interest rates continue to rise, debt servicing costs rise causing stress for the US Treasury.
The average maturity of Treasury debt is only around 70 months, so most debt auctions are less than 10 years.
The time has come today to stop the massive Federal spending and debt issuance. Before this happens.
Support 100% ad-free Biiwii.com by making a donation of your choice!
Or better yet, subscribe to NFTRH Premium for an in-depth weekly market report, interim updates and NFTRH+ chart and trade ideas to get even more bang for your buck. You can also keep up to date with plenty of actionable public content at NFTRH.com by using the email form on the right sidebar. Or follow via Twitter @BiiwiiNFTRH, StockTwits or RSS. Also check out the quality market writers at Biiwii.com.