Treasury Says It Is Considering Offering 2-month Bills

The Treasury Department announced Wednesday that it is considering adding a 2-month bill maturity to the securities it currently offers. The department also said it will sell $64 billion in notes and bonds next week in its quarterly refunding auction. The department will auction $24 billion in 3-year notes on Nov. 9 and $24 billion in 10-year notes on Nov. 10. The government will also sell $16 billion in 30-year bonds on Nov 12. The offerings will refund $60.4 billion in maturing securities and raise approximately $3.6 billion. Treasury also repeated that it intends to increase bill issuance. The supply of bills outstanding as a percentage of the total Treasury portfolio is now at a multi-decade low of about 10%, the department said.