Treasury Refunding Announcement to Show If Long-Term Debt Sales Will Rise to Fund Deficit
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Treasury's quarterly refunding announcement on Wednesday will reveal if they ramp up longer-term debt sales to fund widening deficit.
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Focus is on whether Treasury maintains pace of increase in longer-term debt from August plan.
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Many expect $114B refunding, same pace of increase. Some see smaller bump in longer-term debt.
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Fed policy statement also Wednesday but seen as less impactful with Fed on hold.
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Investors to watch for Treasury update on buyback program start in 2024 and QT impact on yields.