Treasury To 'modestly Reduce' Size Of Notes, Bond Auctions

The Treasury Department said Wednesday it will "modestly reduce" the size of note and bond offerings over the next three months in order to ramp up sales of Treasury bills. Treasury said it will reduce its coupon offerings by $12 billion over the upcoming quarter. Treasury said it also will trim the offering sizes of its inflation-protected securities over the next quarter. The announcement came as the department laid out details of its quarterly refunding auctions. Treasury will sell $62 billion in notes and bonds next week. The department will auction $24 billion in 3-year notes on Feb. 9 and $23 billion in 10-year notes on Feb. 10. The government will also sell $15 billion in 30-year bonds on Feb. 11. The offering will refund $54.4 billion in maturing securities and raise approximately $7.6 billion.