That is, until the next administration takes office.
...On the other hand, I'm not sure you would want to be President during the next four years, there are so many problems that have been growing and metastasizing just beneath the surface of the daily news that the person in the hot seat could end up just plain reviled.
—me, repeating myself a few times over the last couple months
From MarketWatch, July 31":
U.S. Treasury to auction $125 billion in notes and bonds next week
The numbers: The Treasury Department said Wednesday it will sell $125 billion in notes and bonds next week at its quarterly refunding auction. That is the same as the size of the auctions last quarter.
In a statement, the Treasury said it does not anticipate the need to increase nominal coupon or floating rate note auction sizes “for at least the next several quarters.”
The department will auction $58 billion in 3-year notes BX:TMUBMUSD03Y on Aug. 6 and $42 billion in 10-year notes BX:TMUBMUSD10Y on Aug. 7. They government will also sell $25 billion in 30-year bonds BX:TMUBMUSD30Y on Aug. 8.
The auctions will refund $111 billion of Treasury debt and raise $14 billion in new cash.
Big picture: There has been growing concern in financial markets that the U.S. has not managed to shrink its deficit when unemployment has been so low.
That means there is a risk the deficit will widen if the economy were to stumble.
The IMF’s chief economist said recently he was worried that the U.S. is relying too much on short-term borrowing to finance its deficit.
In the short run, Treasury has some breathing room to finance its debt as the Federal Reserve has slowed the pace of its quantitative-tightening program. That effectively reduces the amount of debt previously held by the Fed that the Treasury would have to sell to other investors....
....MUCH MORE
