U.S. Treasury Expected to Leave Issuance Sizes Unchanged
Dow Jones
Jul 31
0537 GMT - The U.S. Treasury is expected to leave nominal coupon and floating rate note issuance sizes unchanged for a 10th consecutive quarter, says HSBC U.S. rates strategist Dhiraj Narula in a note. The Treasury will release details of its borrowing plans at its quarterly refunding announcement on Aug. 5. HSBC also expects the Treasury to maintain its forward guidance that it 'anticipates maintaining nominal coupon and FRN auction sizes for at least the next several quarters', he says. HSBC now expects increases in issuance sizes to begin in May 2027, compared with its previous forecast of February 2027.
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