Treasury sets record for debt repayment of $ 83 billion

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The Treasury Department has announced that it will sell a record $ 83 billion in notes and bonds next week at its quarterly repayment bid. That's $ 5 billion more than the package announced last quarter.

The ministry also announced several changes to its inflation-protected security program. It has put in place a new inflation-protected treasury title dating from October 2019 and increasing total TIPS emissions by $ 20 billion to $ 30 billion compared to 2019. The ministry said that He was maintaining the current issue rate "a TIPS-bidding per month".

What happened: The department will auction 3-year notes worth $ 37 billion

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November 5 and $ 27 billion in 10-year notes on November 6. The government will also sell $ 19 billion over 30 years.

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On November 7, the ministry also announced a modest increase of $ 27 billion in the auction size of other securities during this quarter.

Big picture: The Treasury is about to issue a new debt of $ 1.34 trillion this year, more than double the amount of 2017. Trump tax cuts and rising government spending are driving an increase borrowing needs. Former Fed President Janet Yellen worried about the long-term deficit outlook. She called for rights reform and tax increases to reduce the federal deficit.

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Market reaction: The yield on 10-year treasury bills

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rose earlier in the morning trading session, the shares indicating a higher opening.