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Treasury announces 40-Day Bill

This is a syndicated repost published with the permission of Treasury Offering Announcements. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

Note from Lee: This makes $110 billion in net new issuance announced since the debt ceiling was lifted yesterday. The drawdown of the Fed’s RRP slush fund will soon be under way. A previously announced T-bill paydown of $75 billion will settle tomorrow, then $110 billion in new paper will be issued on October 18, 19, and 21. 

These will be primarily funded from the Fed’s RRP slush fund which currently holds over $1.3 trillion in homeless cash. At this rate, we can guess how long the drawdown will take, assuming there’s a permanent suspension or lifting of the debt ceiling in December. 

CUSIP: 912796N88
Term and Type: 40-Day Bill
CMB: Yes
Offering Amount: 60 Billion
Announcement Date: 10/14/2021
Auction Date: 10/19/2021
Issue Date: 10/21/2021
Maturity Date: 11/30/2021

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