Wednesday, June 1, 2011

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.

Happy hour all round.

Anonymous said...

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

Adam2 said...

August 2nd is the drop down date. Hahahahaha

Ryan Harris said...

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.

mike norman said...

Thanks, TB. Not getting this info anywhere else but here, I can assure you.

beowulf said...

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