Treasury 10-year note yields fell from almost the highest level in three weeks on speculation the Federal Reserve may keep its target interest rate at almost zero for an extended period when it starts stimulus cuts.
The U.S. Treasury Department will sell $10 billion to $15 billion of its first floating-rate notes Jan. 29 and said a period of political wrangling over the budget requires a delay in plans to reduce coupon auctions.
The U.S. Senate confirmed Mark Mazur as the top tax policy official in the Treasury Department, marking the first time the post will be filled by a permanent appointee since President Barack Obama took office in 2009.
Senator Charles Grassley said he’ll block the confirmation of two assistant secretaries of the Treasury until the Internal Revenue Service improves its program to reward whistleblowers who inform on tax cheats and scofflaws.
The U.S. Treasury Department plans to sell $74 billion in its quarterly sales of long-term debt next week, as lower projected budget deficits allow the government to reduce borrowing at a “gradual pace.”