Treasury Maintains Auction Sizes, Eyes Buyback and Stablecoin Demand  The latest Treasury refunding announcement brought little in the way of surprises, generally aligning with earlier forecasts for overall issuance. The focus leading into the announcement had been on a few key areas: whether the Treasury would resume increasing coupon auction...

Treasury Unveils Quarterly Refunding Plans, Initiates Buyback Program  The Treasury recently shared its borrowing forecasts for Q2 and Q3, revealing plans to sell more debt than previously expected in Q2 but less than anticipated in Q3. This announcement coincided with the release of the Quarterly Refunding Announcement by Treasury Secretary J...