The US Treasury secretary's commitment to accelerate buybacks of longer-term debt and issue more short-term debt in their place promises significant budgetary savings.
The US Treasury secretary's commitment to accelerate buybacks of longer-term debt and issue more short-term debt in their place promises significant budgetary savings. But if borrowing costs rise, what happens in the T-bill market won’t stay in the T-bill market. MEXICO CITY—On November 4, the US Treasury issued itsquarterly policy statementof guidance to dealers in federal government securities. This dry and technical document is in fact critical for financial stability. It enables the broker-dealers who are the big dogs in US debt markets to plan for what comes next. Specifically, it provides them with guidance on the inventories of securities they should acquire in order to meet the needs of other market participants.