November 21, 2018 / 4:37 PM / 21 days ago

UPDATE 1-U.S. Treasury to sell more debt in auctions from October

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Nov 21 (Reuters) - The U.S. Treasury Department said on Wednesday it enlarged the auction sizes of short- and medium-term government notes for sale from a month ago, bringing the total of coupon debt for sale next week to $129 billion.

The government has been ramping up its debt issuance this year to finance a growing budget deficit as a result of the massive tax cut enacted last December and a spending agreement reached in February.

On Monday, the Treasury will hold a $39 billion auction of two-year notes, which is $1 billion larger than the two-year auction in October. This is largest two-year offering since June 2010.

On Tuesday, it will sell $40 billion of five-year debt , which is the largest monthly supply of this maturity since May 2010. It is $1 billion more than the five-year debt sold last month.

On Wednesday, the Treasury will auction $32 billion in seven-year notes, $1 billion bigger than the seven-year auction held in October. It is the largest seven-year offering since April 2010.

The Treasury also sell $18 billion in two-year floating-rate notes on Wednesday.

Separately, the Treasury said on Wednesday it will sell $39 billion in three-month bills and $36 billion in six-month bills on Monday. Earlier this week, it sold $42 billion in three-month T-bills and $36 billion in six-month T-bills.

Reporting by Richard Leong Editing by Tom Brown

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