U.S. Treasury Announces Quarterly Refunding Of $121B, To Raise New Cash Of $15.9B
Portfolio Pulse from Benzinga Newsdesk
The U.S. Treasury has announced its quarterly refunding plans, which include issuing $121 billion in Treasury securities. This move is expected to raise $15.9 billion in new cash. The securities will be issued through a series of auctions, and the funds raised will contribute to meeting the government's financing requirements.
January 31, 2024 | 1:34 pm
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NEUTRAL IMPACT
The U.S. Treasury's quarterly refunding announcement of $121 billion in securities to raise new cash of $15.9 billion may have a neutral impact on SPY, an ETF that tracks the S&P 500, as it reflects broader government financing activities rather than direct market influences.
The U.S. Treasury's quarterly refunding is a routine government financing activity and is not directly related to the performance of the S&P 500 or the SPY ETF. However, it can indirectly affect market sentiment and interest rates, which in turn could influence the performance of the ETF. The impact is likely to be neutral in the short term as the market has likely already priced in the expected government borrowing.
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