Saturday, October 3, 2009

Treasury Auction Schedule for the Week of 10/5/2009

The U.S. Treasury Department will auction the following Treasury securities during the week of 10/5/2009.

Monday October 5, 2009

  • 13-week bill: $30 billion
  • 26-week bill: $30 billion
  • 9-year 9-month TIPS (reopening: original issue July 2009, CUSIP 912828LA6): $7 billion

    (original issue $8 billion)
Tuesday October 6, 2009
  • 4-week bill: $24 billion
  • 3-year note (CUSIP: 912828LR9): $39 billion (last month $38 billion)
Wednesday October 7, 2009
  • 9-year 10-month note (2nd reopening: original issue August 2009, CUSIP 912828LJ7): $20 billion

    (original issue $23 billion, 1st reopening (September) $20 billion)
Thursday October 8, 2009
  • 29-year 10-month bond (2nd reopening: original issue Ausut 2009, CUSIP 912810QC5): $12 billion

    (original issue $15 billion, 1st reopening $12 billion)
Total for the week: $162 billion
  • Bills: $84 billion
  • Notes and bonds: $78 billion

at 2:22 PM  

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Terminology
SOMA System Open Market Account at the Federal Reserve New York Bank
Primary Dealer A bank or securities broker-dealer that may trade directly with the Federal Reserve System. Primary Dealers are required to bid at Treasury auctions. Current list of Primary Dealers is available at New york Fed.
Indirect Bidder Supposed to be the foreign investors, both foreign central banks and foreign private investors
Bid to Cover ratio The number of bids received divided by the number of bids accepted. The higher the ratio, the higher the demand.
Reopening The U.S. Treasury issues additional amounts of a previously issued security. The reopened security has the same maturity date and coupon interest rate as the original security, but with a different issue date and usually a different purchase price.
Cash Management Bill (CMB) A short-term security sold by the U.S. Department of the Treasury. The maturity on a CMB can range from a few days to six months. The money raised through these issues is used by the Treasury to meet any temporary shortfalls. CMBs tend to pay higher yields than bills with fixed maturities, but their shorter maturities lead to lower overall interest expense.
Supplementary Financing Program (SFP) A program initiated by the U.S. Treasury Department at the request of the Federal Reserve in September 17, 2008. The cash raised from the auction will be used in the various Federal Reserve initiatives to support the financial markets and manage its balance sheet.

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