Source Pravda.Ru

US Treasury to bring back one-year bills

The United States Department of the Treasury is going to revive one-year bills due to a weakening economy.

The 52-week bill ceased to exist in 2001 when budget surpluses had eliminated the need to sell debt. Now when federal budget deficit may approach its acme and the country is rolling down into huge debt the need for the bill sounds urgent.

The treasury of the United States government is also going to auction $15 billion of 10-year notes on May 7 and $6 billion of 29 1/2-year bonds on May 8.

52-week bills will be auctioned every four weeks. The Treasury Department anticipates selling cash management bills in May, June, August and September. Treasury plans to up the issuance of bills and nominal coupons for the rest of the year.