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Treasury to trim short-term debt auction sizes
WASHINGTON (MarketWatch) -- The Treasury Department announced Wednesday that it plans to slowly decrease the sizes of the auctions of its shorter-dated coupon securities over the next quarter. Treasury said it will trim the size of the 2-and 3-year note auctions by $1 billion each month of the quarter. The department also announced that it will sell $69 billion in notes and bonds next week in its quarterly refunding auction, down from $70 billion last quarter. The department will auction $29 billion in 3-year notes on May 6 and $24 billion in 10-year notes on May 7. The government will also sell $16 billion in 30-year bonds [UST30y] on May 8. The offerings will refund $59.3 billion in maturing securities and raise approximately $9.7 billion.
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