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Treasury sells $119 bln in notes yesterday. I thought we had a debt limit?
This was on the Treasury's Daily Statement today:
Apparently the Treasury sold $119 bln in notes on Tuesday, but that did not count against the debt limit. Was wondering what these notes were. Anybody? Anybody?
6 comments:
Anonymous
said...
Why doesn't the USA sell off $14 trillion dollars worth ot debt? Hey, let's make it $20 trillion.
Appears the auction proceeds were for refunding maturing debt because the outstanding issues went from 14,345,428,204,844.19 on the 31-May to 14,344,668,281,211.01 on 1-June. I listed out the cusip list for maturing debt over a couple days and there are a few issues that matured/will mature in the next day or so.
Tsy is sailing mighty close to the wind. Total Public Debt Subject to Limit 14,293,975 Statutory Debt Limit 14,294,000
$25 million is 0.3% of the $8.3 billion the Fed rebated to Tsy in May alone. Sooner or later, Congress will figure out they can just outsource the whole messy business of taxes with Fed transaction fees / earnings rebates. :o) http://www.scribd.com/doc/25299549/Feige-APT-Presentation-to-Tax-Reform-Panel-2005
6 comments:
Why doesn't the USA sell off $14 trillion dollars worth ot debt? Hey, let's make it $20 trillion.
Happy hour all round.
because they don't need to, you spend first and then you issue bonds, if there is no spending then there is no point.
anyway a country that issues its own currency doesn't technically *need* to "sell off" debt
August 2nd is the drop down date. Hahahahaha
Appears the auction proceeds were for refunding maturing debt because the outstanding issues went from 14,345,428,204,844.19 on the 31-May to 14,344,668,281,211.01 on 1-June. I listed out the cusip list for maturing debt over a couple days and there are a few issues that matured/will mature in the next day or so.
Thanks, TB. Not getting this info anywhere else but here, I can assure you.
Tsy is sailing mighty close to the wind.
Total Public Debt
Subject to Limit 14,293,975
Statutory Debt Limit 14,294,000
$25 million is 0.3% of the $8.3 billion the Fed rebated to Tsy in May alone. Sooner or later, Congress will figure out they can just outsource the whole messy business of taxes with Fed transaction fees / earnings rebates. :o)
http://www.scribd.com/doc/25299549/Feige-APT-Presentation-to-Tax-Reform-Panel-2005
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