Treasury Auctions Monday March 13

Monday's Auctions

 

13-week: Tender $126.51bn; Accept $61.15bn; T/A=2.07; Median yield 4.58 percent.

Maturing batch: $58.7bn at 4.19 percent. Estimated annualized debt-cost mark-up: $341m

SOMA sales equal to 6.78 percent of accepted volume.

26-week: Tender $113.37bn; Accept $51.49bn; T/A=2.20; Median yield 4.57 percent.

Maturing batch: $45.5bn at 3.45 percent. Estimated annualized debt-cost mark-up: $783m

SOMA sales equal to 6.78 percent of accepted volume.

Estimated total debt-cost mark-up:$1.12bn

Estimated average interest on debt: 2.42 percent

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We do not give investment advice. 

This blog provides analytical information solely for the purposes of 1) predicting the cost of the federal debt, and 2) for assessing the risk for a U.S. fiscal crisis. All information published here, forecasting and other, is based on publicly available data from the U.S. Treasury, including but not limited to approximately 65 percent of the current debt; on macroeconomic data, including but not limited to monetary policy decisions by the Federal Reserve; and on macroeconomic theory.    

Treasury Auctions Thursday March 9

Thursday's Auctions

 

4-week: Tender $180.16bn; Accept $66.19bn; T/A=2.72; Median yield 4.6 percent.

Maturing batch: $75.99bn at 4.45 percent. Estimated annualized debt-cost mark-up: $-337m

SOMA sales equal to 1.79 percent of accepted volume.

8-week: Tender $127.66bn; Accept $56bn; T/A=2.28; Median yield 4.725 percent.

Maturing batch: $55.96bn at 4.42 percent. Estimated annualized debt-cost mark-up: $305m

SOMA sales equal to 1.79 percent of accepted volume.

30-year: Tender $42.32bn; Accept $18bn; T/A=2.35; Median yield 3.804 percent.

Maturing batch unknown due to insufficient Treasury data. 

SOMA sales at zero.

Estimated average interest on debt: 2.41 percent

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We do not give investment advice. 

This blog provides analytical information solely for the purposes of 1) predicting the cost of the federal debt, and 2) for assessing the risk for a U.S. fiscal crisis. All information published here, forecasting and other, is based on publicly available data from the U.S. Treasury, including but not limited to approximately 65 percent of the current debt; on macroeconomic data, including but not limited to monetary policy decisions by the Federal Reserve; and on macroeconomic theory.    

Treasury Auctions Wednesday March 8

Wednesday's Auctions

 

17-week: Tender $95.07bn; Accept $36.66bn; T/A=2.59; Median yield 5.0 percent.

Maturing batch: $34.1bn at 4.25 percent. Estimated annualized debt-cost mark-up: $384m

SOMA sales equal to 1.79 percent of accepted volume.

10-year: Tender $75.21bn; Accept $32bn; T/A=2.35; Median yield 3.889 percent.

Maturing batch: $21bn at 2.005 percent. Estimated annualized debt-cost mark-up: $823m

SOMA sales at zero.

Total annualized debt-cost mark up for these two auctions: $1.21bn

Estimated average interest on debt: 2.41 percent

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We do not give investment advice. 

This blog provides analytical information solely for the purposes of 1) predicting the cost of the federal debt, and 2) for assessing the risk for a U.S. fiscal crisis. All information published here, forecasting and other, is based on publicly available data from the U.S. Treasury, including but not limited to approximately 65 percent of the current debt; on macroeconomic data, including but not limited to monetary policy decisions by the Federal Reserve; and on macroeconomic theory.   

Treasury Auction Wednesday March 7

Tuesday's Auction

 

3-year: Tender $109.06bn; Accept $40bn; T/A=2.73; Median yield 4.58 percent.

Maturing batch: $38bn at 0.49 percent. Estimated annualized debt-cost mark-up: $1.646bn

SOMA sales zero.

Estimated average interest on debt: 2.41 percent

The yield curve in the secondary market is steepening. Five maturity classes are now above five percent:

Figure 1

Source: U.S. Treasury

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We do not give investment advice. 

This blog provides analytical information solely for the purposes of 1) predicting the cost of the federal debt, and 2) for assessing the risk for a U.S. fiscal crisis. All information published here, forecasting and other, is based on publicly available data from the U.S. Treasury, including but not limited to approximately 65 percent of the current debt; on macroeconomic data, including but not limited to monetary policy decisions by the Federal Reserve; and on macroeconomic theory.   

Treasury Auctions Monday March 6

Monday's Auctions

 

13-week: Tender $170.9bn; Accept $61.04bn; T/A=2.80; Median yield 4.7 percent.

Maturing batch: $58.7bn at 4.205 percent. Estimated annualized debt-cost mark-up: $405m

SOMA sales equal to 6.62 percent of accepted volume.

26-week: Tender $137.89bn; Accept $51.4bn; T/A=2.68; Median yield 4.93 percent.

Maturing batch: $45.4bn at 3.3 percent. Estimated annualized debt-cost mark-up: $1.036bn

SOMA sales equal to 6.62 percent of accepted volume.

Total annualized debt-cost mark up for these two auctions: $1.54bn

Estimated average interest on debt: 2.40 percent

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We do not give investment advice. 

This blog provides analytical information solely for the purposes of 1) predicting the cost of the federal debt, and 2) for assessing the risk for a U.S. fiscal crisis. All information published here, forecasting and other, is based on publicly available data from the U.S. Treasury, including but not limited to approximately 65 percent of the current debt; on macroeconomic data, including but not limited to monetary policy decisions by the Federal Reserve; and on macroeconomic theory.   

Treasury Auctions Thursday March 2

Thursday's Auctions

 

4-week: Tender $190.87bn; Accept $76.3bn; T/A=2.50; Median yield 4.51 percent.

Maturing batch: $76.15bn at 4.41 percent. Estimated annualized debt-cost mark-up: $83m

SOMA sales equal to 1.71 percent of accepted volume.

8-week: Tender $168.44bn; Accept $61.04bn; T/A=2.76; Median yield 4.63 percent.

Maturing batch: $46.14bn at 4.32 percent. Estimated annualized debt-cost mark-up: $210m

SOMA sales equal to 1.71 percent of accepted volume.

Total annualized debt-cost mark up for these two auctions: $283m

Estimated average interest on debt: 2.40 percent

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We do not give investment advice. 

This blog provides analytical information solely for the purposes of 1) predicting the cost of the federal debt, and 2) for assessing the risk for a U.S. fiscal crisis. All information published here, forecasting and other, is based on publicly available data from the U.S. Treasury, including but not limited to approximately 65 percent of the current debt; on macroeconomic data, including but not limited to monetary policy decisions by the Federal Reserve; and on macroeconomic theory.  

Treasury Auction Wednesday March 1

Wednesday's auction:

There were no auctions on Tuesday.

17-week: Tender $105.74bn; Accept $36.63bn; T/A=2.89; Median yield 4.85 percent.

Maturing batch: $33.9bn at 4.25 percent. Estimated annualized debt-cost mark-up: $336m

SOMA sales equal to 1.71 percent of accepted volume.

Estimated average interest on debt: 2.39 percent