Wall Street closes at a record for the first time since end of January
Investing.com -- The U.S. Treasury Department announced it will offer $125 billion of Treasury securities to refund approximately $90.2 billion of privately-held Treasury notes and bonds maturing on February 15, 2026.
This issuance will raise new cash from private investors of approximately $34.8 billion, according to a statement from Deputy Assistant Secretary for Federal Finance Brian Smith.
The securities include a $58 billion 3-year note maturing February 15, 2029, a $42 billion 10-year note maturing February 15, 2036, and a $25 billion 30-year bond maturing February 15, 2056.
Auctions will be held at 1:00 p.m. ET on Tuesday, February 10 for the 3-year note, Wednesday, February 11 for the 10-year note, and Thursday, February 12 for the 30-year bond. All auctions will take place on a yield basis and settle on Tuesday, February 17, 2026.
The Treasury Department plans to maintain nominal coupon and Floating Rate Note (FRN) auction sizes for at least the next several quarters based on current projected borrowing needs. Treasury Inflation-Protected Securities (TIPS) auction sizes will also remain at current levels for the February to April 2026 quarter.
For bill issuance, the Treasury expects to maintain offering sizes of benchmark bills at or near current levels into mid-March before incrementally reducing short-dated bill auction sizes in light of the April 15 tax date. These reductions will likely lead to a cumulative $250-300 billion net decline in total bill supply by early May.
The Treasury estimates that the size of the Treasury General Account could peak around $1,025 billion (plus or minus $50 billion) by late April, before declining in May, assuming an $850 billion cash balance at the end of March.
Additionally, the Treasury plans to purchase up to $38 billion in off-the-run securities for liquidity support and up to $75 billion in the 1-month to 2-year bucket for cash management purposes during the upcoming quarter.
On January 14, the Treasury released a notice of proposed rulemaking regarding plans to offer direct buyback access to additional counterparties based on their participation in Treasury auctions. The comment period closes on February 13, 2026.
In the coming months, the Treasury expects to transition its buyback operations to the Federal Reserve Bank of New York’s new trading platform, FedTrade Plus, and plans to conduct a small-value test buyback to support this transition.
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