We already knew - after its publication on Monday - that in the current quarter, the Treasury expected to issue $776BN in debt in the current quarter, or some $76BN below the previous forecast published last quarter, a welcome slowdown in debt issuance as a result of slightly higher than expected tax receipts in October. Today's Treasury Refunding Announcement gave the details of what the composition of this issuance would be, with a focus on Coupon vs Bill sales. Here is what we learned: next week, the US Treasury's debt sales will total $112BN, which while an increase from the $103BN unveiled in August, was less ... (full story)