Thanks this is great. Has the Treasury indicated in the past that it wants to keep to its coupon issuance schedules? Or might they issue more T-bills than you lay out above? I'm trying to project bank reserves going forward and this would have implications for a drawdown in the RRP. In 2021 I believe the Treasury was actively looking to reduce T-bills in its debt mix, but it has recently been studying a bond buyback program, which would suggest it might be leaning more towards increasing T-bills in its mix - this has me thinking to the extent there is a shortfall in net issuance it might come from coupons versus T-bills. Thanks!
Hi John,
Thanks this is great. Has the Treasury indicated in the past that it wants to keep to its coupon issuance schedules? Or might they issue more T-bills than you lay out above? I'm trying to project bank reserves going forward and this would have implications for a drawdown in the RRP. In 2021 I believe the Treasury was actively looking to reduce T-bills in its debt mix, but it has recently been studying a bond buyback program, which would suggest it might be leaning more towards increasing T-bills in its mix - this has me thinking to the extent there is a shortfall in net issuance it might come from coupons versus T-bills. Thanks!