The Treasury Department announced plans to accelerate the size of its auctions as it looks to handle its heavy debt load and with financing costs rising.
- The announcement comes with Treasury yields around their highest levels since 2007, a reflection of financial markets spooked over how much damage higher borrowing costs could exact.
- Most immediately, the Treasury will auction $112 billion in debt next week to refund $102.2 billion of notes set to mature Nov. 15, raising more than $9 billion in extra funds.