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US Rates: Previewing the August refunding announcement

At Any Rate

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Forecasting U.S. Treasury Refunding and Market Dynamics

This chapter explores the anticipated U.S. Treasury refunding announcement, focusing on net borrowing needs and cash management strategies post-debt ceiling. It also forecasts a significant T-bill issuance and highlights potential funding gaps from 2026 to 2029, emphasizing the need for increased coupon auction sizes.

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