US Treasury Sets $21 Billion TIPS Sale, Lifts Six-Week Bills to $80 Billion

The U.S. Treasury Department outlined its mid-July borrowing plans, headlined by a $21 billion sale of 10-year Treasury Inflation-Protected Securities (TIPS) scheduled for July 24 with settlement on July 31. The department will also reopen $13 billion of 20-year nominal bonds on July 23, settling the same day as the TIPS. Short-term funding needs will be met with bill auctions on July 21, comprising $82 billion in three-month bills and $73 billion in six-month bills, both settling July 24. In addition, Treasury increased the size of its six-week bill offering by $10 billion to $80 billion, signaling elevated near-term cash requirements.