This is a busy week for US debt issuance as the Treasury auctions off 3-, 10- & 30-year bonds and a heavy load of short-term bills.
Some of the larger issues were:
$100 billion – 4-week bills – 4.29%
$85 billion – 8-week bills – 4.29%
$58 billion – 3-year notes – 3.669%
$42 billion – 10-year notes – 4.255%
$25 billion – 30-year bonds – not available yet
According to CNBC, all but the 30-year bonds are the largest one-time debt issuance to date. The U.S. Treasury sells marketable securities through auctions. In 2024, they had 440 public auctions and issued about $28.5 trillion in Treasury securities. Marketable is the ability to sell or transfer them before maturity.
https://treasurydirect.gov/auctions/announcements-data-results/
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Yield to call (YTC) is not indicative of total return; this yield is valid only if the security is called. Bonds may or may not be called, or be callable on multiple dates or, in other cases, called any date following the first call date, so yield to call is based on the earliest stated call date. Discounted bonds may be subject to capital gains tax. Bonds may be subject to OID (Original Issue Discount). Prices and availability may change at anytime without notice.
Do not buy bonds based on the Yield to Call (YTC). Insured bonds are issued for timely payment of principal and interest only. Insured bonds do not cover potential market loss and are subject to the claims paying ability of the insurance company.
Non-rated (NR), With-Drawn (WR), or below investment grade bonds, lower rated bonds, carry a greater potential risk of default & should be considered by sophisticated investors only.
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Bonds may be subject to capital gains tax. This summary is for informational purposes only and is not an offer or solicitation for the purchase or sale of any security or a recommendation or endorsement of any security or issuer. NewEdge Securities, LLC. and DRL Group make no representation about the accuracy, completeness, or timeliness of this information. Bonds could also be subject to the DeMinimis Rule, please consult with your tax advisor for further clarification.
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