Global Macro Service > Research Briefings > United States
We estimate the US Treasury will need to issue $1.2tn in marketable debt over the next two quarters as it continues to finance the nearly $3tn in stimulus measures approved since December. We expect Treasury to maintain nominal coupon auction sizes at current levels, boost the sizes of its inflation-protected TIPS auctions, and begin increasing bill supply in the July-September quarter after four quarters of paydowns.
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