Posted on 05/20/2020 4:14:23 AM PDT by Oldeconomybuyer
NEW YORK - Investors expect robust demand for the Treasury Department’s new $20 billion issue of 20-year bonds, set to launch Wednesday, from U.S. institutions, foreign investors and other market participants.
The government’s borrowing needs have jumped dramatically in recent weeks, after Congress authorized trillions in spending to fend off an economic hit from the coronavirus pandemic, which has slammed U.S. growth. The U.S. plans to sell a total of $54 billion of the 20-year bonds over the next three months.
The Treasury said earlier this month it intends to increase auction sizes across all nominal coupon tenors over the May-to-July period, with the increases larger in the 7-year, 10-year, 20-year and 30-year categories. The largest increase will be on the 10-year note.
U.S. national debt now stands at more than $25 trillion, up 15% since a year ago, according to U.S. Treasury Department data.
(Excerpt) Read more at reuters.com ...
Thank God we are locking in interest rates of nearly zero. We are also retiring some debt with much higher rates from motivated sellers.
$25 trillion of debt is only worth one post thus far on this thread.
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