There were no Treasury auctions scheduled for Tuesday. Secondary-market rates stayed largely unchanged, though a drop in the yield on the 7-year note from 3.95 percent to 3.88, brought its yield down below the most recent auction yield of 3.95 percent. This means that the current market yield for all maturities from 2 years and up are now below auction yields.
The largest positive differences between market and auction yields are for 1-month (6.8 points excess market yield) and 2-month bills (7.33 points excess yield). In the opposite direction, the largest negative difference is for the 3-year note (-8.15 points) and the 10-year (-6.03 points).
As of November 14, total U.S. debt stood at $31,255.3 billion. At an average 2.06 percent yield, this debt currently costs Congress an annual $642.7 billion. This is a static figure, not counting changes in debt composition or interest rates, or the addition of more debt.
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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.
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