August 27, 2018 / 4:04 PM / 3 months ago

UPDATE 1-U.S. Treasury cuts one-month bill auction size

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Aug 27 (Reuters) - The U.S. Treasury Department said on Monday it will sell $65 billion of four-week, or one-month, bills on Tuesday, marking the first time it has reduced the weekly auction size of this T-bill maturity since early June.

The Treasury sold $70 billion of one-month bills, a record high amount, each of the previous three weeks.

The U.S. government had ramped up sales of T-bills as part of its effort to finance an expected widening of its budget deficit stemming from the massive tax overhaul in December and a spending deal in February.

On Monday, the Treasury auctioned $51 billion in three-month bills and $45 billion in six-month bills.

Reporting by Richard Leong; Editing by Meredith Mazzilli

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