U.S. Treasury Plans Floating-Rate Notes in Year or More
by Meera Louis and Cheyenne Hopkins
Bloomberg.com
The U.S. Treasury Department said today it is developing a floating-rate note program that could be operational in a year or more, while it is preparing for possible negative-rate bidding.
The U.S. Treasury Department also said it plans to sell $72 billion in notes and bonds in next week’s refunding. The Treasury intends to auction $32 billion in 3-year notes on Aug. 7, $24 billion in 10-year notes on Aug. 8 and $16 billion in 30- year bonds on Aug. 9.
“Treasury plans to develop a floating-rate note program to complement the existing suite of securities issued and to support our broader debt-management objectives,” the department said in a statement today in Washington. “The first FRN auction is estimated to be at least one year away.”
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2012-08-01 11:03:45
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