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The U.S. Treasury Department said Tuesday it would auction $40 billion of two-month Treasury bills on Thursday, setting a record issuance scale, as the Treasury expanded short-term borrowing to enrich the Treasury.
The government's cash reserves have been shrinking until President Trump and federal lawmakers reached a two-year spending agreement that allowed more borrowing to meet their debts.
Analysts say the Treasury will issue an additional $100 billion to $200 billion of Treasury bills starting in August, with a view to raising federal cash holdings to $350 billion by the end of September.
The U.S. government held $133.67 billion in cash on Friday, well below the $423 billion it had at the end of April.
Most Wall Street analysts expect the Treasury Department to increase the issuance of one-month and two-month Treasury bills and issue cash-management bonds in weekly bond sales to reach the expected level of $350 billion by the end of September.
The Ministry of Finance will sell $50 billion of one-month Treasury bills on Thursday, the largest issue since May 16.


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