Investor demand meets 'relentless supply' of record-breaking US Treasury bond sales

Government attempts to plug debt vacuum

Eve Maddock-Jones
clock • 4 min read

The US Treasury has embarked on some of its biggest ever sales of government debt, with investor demand meeting the 10-year note issuance on Wednesday (7 February).

On 31 January, the Treasury released its Quarterly Refunding Statement, which announced it would be offering record sales to refund approximately $105.1bn of privately-held Treasury notes maturing on 15 February 2024. According to the Treasury, this issuance will raise new cash from private investors of approximately $15.9bn. The move will involve a triple phased sale of 3-, 10- and 30-year notes this month, totalling $121bn overall. The 3-year notes were sold for the amount of $54bn, maturing 15 February 2027, a 10-year note for $42bn which matures on 15 February 2034; and finally a ...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on US

Federal Reserve holds interest rate steady amid cooling inflation
US

Federal Reserve holds interest rate steady amid cooling inflation

5.25-5.5% hold

clock 13 June 2024 • 2 min read
US appeals court rejects SEC's new disclosure rules for private equity and hedge funds
US

US appeals court rejects SEC's new disclosure rules for private equity and hedge funds

A ‘significant victory’ for markets

clock 06 June 2024 • 1 min read
Can the Fed ignore political pressures as the presidential election approaches?
US

Can the Fed ignore political pressures as the presidential election approaches?

Central bank independence questioned

Christophe Boucher and Benoît Begoc
clock 31 May 2024 • 4 min read
Trustpilot