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Treasury Running Out of Cash, Announces 64-Day CMB In Addition To Usual Weekly Bill Offerings

Apparently seeing revenues falling well short of forecasts, the US Treasury today announced a surprise $20 billion Cash Management Bill (CMB). This bill was not included in the TBAC (Treasury Borrowing Advisory Committee)  forecast schedule posted just last week. The simultaneously announced regular 6 month bill was $1 billion above the TBAC forecast. Here are the details.

CUSIP: 9127955J6
Term and Type: 64-Day Bill
Offering Amount: $20,000,000,000
Auction Date: 02/14/2012
Issue Date: 02/15/2012
Maturity Date: 04/19/2012
PDF version of the announcement
XML version of the announcement

CUSIP: 9127955N7
Term and Type: 13-Week Bill
Offering Amount: $33,000,000,000
Auction Date: 02/13/2012
Issue Date: 02/16/2012
Maturity Date: 05/17/2012
PDF version of the announcement
XML version of the announcement

CUSIP: 9127956B2
Term and Type: 26-Week Bill
Offering Amount: $31,000,000,000
Auction Date: 02/13/2012
Issue Date: 02/16/2012
Maturity Date: 08/16/2012
PDF version of the announcement
XML version of the announcement

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Lee Adler

I’ve been publishing The Wall Street Examiner and its predecessor since October 2000. I also publish LiquidityTrader.com, and was lead analyst for Sure Money Investor, of blessed memory. I developed David Stockman's Contra Corner for Mr. Stockman. I’ve had a wide variety of finance related jobs since 1972, including a stint on Wall Street in both sales, analytical, and trading capacities. Prior to starting the Wall Street Examiner I was a commercial real estate appraiser in Florida for 15 years. I was considered an expert in the analysis of failed properties that ended up in the hands of bank REO divisions, the FDIC, and the RTC. Remember those guys? I also worked in the residential mortgage and real estate businesses in parts of the 1970s and 80s. I have been charting stocks and markets and doing analytical work since I was a teenager. I'm not some Ivory Tower academic, Wall Street guy. My perspective comes from having my boots on the ground and in the trenches, as a real estate broker, mortgage broker, trader, account rep, and analyst. I've watched most of the games these Wall Street wiseguys play from right up close. I know the drill from my 55 years of paying attention. And I'm happy to share that experience with you, right here. 

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