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No More Sales of New Treasury Debt- Here’s What It Means

Summary:
The Treasury paid down billion in outstanding bill, note and bond supply in the period April 6 through May 11, thanks to its cash windfall from April tax collections. The Treasury collects more than it spends in April and May. It then uses some of that to pay down existing debt. Holders of the expiring paper get cash back. They then reinvest in other paper, both short and long term fixed income and equities.

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The Treasury paid down $78 billion in outstanding bill, note and bond supply in the period April 6 through May 11, thanks to its cash windfall from April tax collections. The Treasury collects more than it spends in April and May. It then uses some of that to pay down existing debt. Holders of the expiring paper get cash back. They then reinvest in other paper, both short and long term fixed income and equities.

About Lee Adler
Lee Adler
Editor and publisher of the Wall Street Examiner- http://wallstreetexaminer.com and The Wall Street Examiner Professional Edition, a proprietary service for professional investors and sophisticated individual investors.

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