U.S. to sell $351 billion in debt in 2Q: SIFMA
April 29, 2010, 2:28 p.m. EDT
NEW YORK (MarketWatch) -- The Treasury Department will sell a net $351 billion in notes, bonds and bills in the second quarter, according to a survey released by the Securities Industry and Financial Markets Association on Thursday. The government will say next week, in its quarterly refunding statement, how much it expects to issue during the current quarter.
That would be down from $483 billion in the first quarter to reflect an expanding economy and "attempts to curb spending and the national debt going forward," SIFMA's survey said. The projection for the second quarter is only slightly higher than the year-ago period.
Survey respondents expect Treasury yields to increase during the quarter as the economy recovers and investors feel less need for the perceived relatively safety of Treasury debt, SIFMA said. Yields on 30-year bonds (U.S.:UST30Y) will rise to 4.90% at the end of the second and third quarter, according to the survey, up from 4.61%. Two-year yields (U.S.:UST2YR) will rise to 1.20% by June and 1.30% by September, from 1.02% currently. Yields on 10-year notes (U.S.:UST10Y) will rise to 4% this quarter and 4.1% in the third quarter, from 3.75%, the survey found.
Patron, hope your TBT "model" follows through. |
