March 29, 2018 / 3:57 PM / a month ago

U.S. seen trimming T-bill supply by $11 billion - Jefferies

NEW YORK, March 29 (Reuters) - The U.S. Treasury Department is expected to pare its bill issuance by $11 billion next week, which would begin to lower the London interbank offered rate and interest rates on repurchase agreements, Jefferies & Co. senior money market economist Tom Simons said on Thursday.

Simons said in a research note he forecast the Treasury will sell $45 billion in one-month T-bills next Tuesday, $20 billion less than what it sold earlier this week.

The Treasury will announce the size of the upcoming one-month bill sale at 11 a.m. (1500 GMT) on Monday.

Earlier Thursday, the Treasury said it will sell $48 billion in three-month bills and $42 billion in six-month bills at 11:30 a.m. (1530 GMT) on Monday. They are each $3 billion less than what the Treasury sold earlier this week. (Reporting by Richard Leong Editing by Chizu Nomiyama)

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