The U.S. Treasury Department on Wednesday announced bond auctions in a move to handle debt.

The Treasury said it would launch sales of $112 billion of bonds in order to re-finance $102.2 billion of privately held Treasury bonds maturing Nov. 15, increasing bond auction debt sales November through January 2024 to manage intermediate to long-term debt.

“Based on projected intermediate- to long-term borrowing needs, Treasury intends to continue gradually increasing coupon auction sizes in the upcoming November 2023 to January 2024 quarter,” the statement said. “As these changes will make substantial progress towards aligning auction sizes with projected borrowing needs, Treasury anticipates that one additional quarter of increases to coupon auction sizes will likely be needed beyond the increases announced today.”

The bond auctions will be for a 3-year note of $48 billion maturing Nov. 15, 2026, a 10-year $40 billion note maturing Nov. 15, 2033 and a 30-year $24 billion bond maturing Nov. 15, 2053.

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