A sharp eyed subscriber caught an error on the top of page 4 of this report. I typed “billion,” instead of “trillion,” twice, in reference to T-bill issuance for the quarter. The paragraph should read as follows:
How much more? The TBAC said that $84 billion in Treasury coupon paper (notes and bonds) will settle at the end of the month. It didn’t give details on short term paper issuance, but it projected $2.68 trillion in bill issuance for the whole second quarter. $2.25 trillion has already been issued or scheduled through June 16. That means another $440 billion or so to come in the last 2 weeks of June. In other words, total net new issuance for June 17-30 is projected to be $524 billion.
Sorry for the confusion!
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