U.S. Treasury cuts bond issuance for second week to preserve debt-raising capacity

Odaily News The U.S. Treasury Department cut the size of some of its benchmark Treasury bill auctions for the second week in a row on Tuesday as it seeks to retain borrowing capacity under the statutory debt ceiling. The Treasury said it plans to sell $85 billion in four-week Treasury bills on Thursday, $5 billion less than its previous sale of the same-term Treasury bills. The Treasury also announced it would sell $80 billion in eight-week Treasury bills on Thursday, also $5 billion less. Wednesday's routine 17-week Treasury bill auction was cut to $60 billion, a $2 billion reduction. This is the second time the Treasury has cut its Treasury bill issuance, and it could be one of a series of cuts, to retain its borrowing capacity under the statutory debt ceiling.