SIFMA Quarterly Survey Forecasts Increase in Treasury Issuance in Third Quarter
Expect Greater Issuance of Bills and TIPS; Yield Curve to Steepen
Results from SIFMA's Quarterly Government Securities Issuance and Rates Forecast forecast project that total net Treasury bill, note and bond issuance to reach $399.0 billion in the third quarter of 2010, compared with the net $343.6 billion issued in the second quarter and $392.5 billion issued in the third quarter of 2009. The expected increase may reflect growing worries regarding stagnant unemployment, a cooling economic recovery, deflationary pressures and the potential need for additional stimulatory measures by the U.S...
For detail regarding the forecast, including numbers of Treasury borrowing, quarterly new issuance, Federal Agency issuance, Federal Budget deficit estimates and interest rates and spreads, click link below.
The forecast reflects the responses to a survey of members of the Association’s Primary Dealers Committee and Government Securities Research and Strategist Committee. The Committee is composed of trading strategists and research analysts at Association member firms who specialize in the U.S. government and agency securities markets.