Treasury to increase size of longer-term securities auctions


WASHINGTON – The Treasury Department said on Wednesday that it plans to increase the size of longer-term securities auctions and will issue a new 20-year bond for an initial bid of $ 20 billion, much larger than what Wall Street analysts were waiting.

Government borrowing requirements have increased significantly, with Congress authorizing billions of new dollars to fight the coronavirus pandemic. Treasury officials estimated on Monday that they would borrow a record $ 2.99 trillion in the second quarter, more than five times more than each quarter …


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