The story is corrected to show the new maturity is a 2-month bill.
The Treasury Department announced Wednesday it plans to sell 2-month bill, adding a new security to its mix of notes and bonds. In a statement, Treasury said it will further study operational details related to the offering and did not say when the first auction would take place. Treasury also announced it will sell $73 billion in notes and bonds next week at its quarterly refunding auction, up from $66 billion at the last auction. The department will auction $31 billion in 3-year notes on May 8 and $25 billion in 10-year notes on May 9. The government will also sell $17 billion in 30-year bonds on May 10. The department said it will also increase auction sizes. The government is grappling with forecasts of trillion-dollar deficits starting in 2020.
Read the full story: Treasury announces plan to sell 2-month bill as funding needs mount