On February 12th, the US Treasury Department reduced the tender size of some benchmark Treasury bonds, which may be the beginning of a series of cuts as the government retains its borrowing authority based on the statutory debt ceiling. The US Treasury Department announced that it plans to issue $90 billion worth of 4-cycle Treasury bonds on Thursday, a decrease of $5 billion from the previous issuance limit. The US Treasury Department also announced that it will issue $85 billion in 8-cycle Treasury bonds on Thursday, a reduction of $5 billion in size. The size of the 17 cycle Treasury bonds to be issued on Wednesday decreased to $62 billion, a decrease of $2 billion. This is the first reduction in the issuance scale of the 4th and 8th cycles since December 26th, and also the first reduction in the history of the 17th cycle.
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