Treasury announces upcoming auction sizes • 2 year auctions increase $3 billion/month • 3 year auctions increase $2 billion/month • 5 year auctions increase $3 billion/month • 10 year auctions increase $2 billion/month • 30 year auctions increase $1 billion/month • The Treasury said it expects one additional quarter of increased auction sizes beyond what's announced today. Expectations I've seen: • 2 year auctions expected to increase $3 billion/month • 3 year auctions expected to increase $2 billion/month • 5 year auctions expected to increase $3 billion/month • 10 year auctions expected to increase $3 billion/month ... (full story)

The Treasury Department announced plans Wednesday to accelerate the size of its auctions as it looks to handle its heavy debt load and with financing costs rising. In a development getting close attention on Wall Street, the department detailed its refunding plans for future debt sales. The announcement comes with Treasury yields around their highest levels since 2007, a reflection of financial markets spooked over how much damage higher borrowing costs could exact. Most immediately, Treasury will auction $112 billion in debt next week to refund $102.2 billion of notes set to mature Nov. 15, raising more than $9 ... (full story)