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<p><span>The U.S. Department of the Treasury is offering $96 billion of Treasury securities to refund approximately $67.1 billion of privately-held Treasury notes and bonds maturing on February 15, 2023. This issuance will raise new cash from private investors of approximately $28.9 billion. </span></p>
Speaker Kevin McCarthy and President Joe Biden face their first major legislative clash as they prepare to do battle over whether or not to increase the country's $31.4 trillion debt limit.
Congress and the White House are on track for a major clash this summer, with the nation set to hit the debt limit January 19th, and 'extraordinary measures' that will last just months.
<p><span>Today, U.S. Secretary of the Treasury Janet L. Yellen sent a letter to all members of Congressional leadership regarding the debt limit.</span></p>
<p><span>Let me begin by thanking SIFMA for inviting me to speak at today’s meeting. In my remarks, I will focus on the progress made by the official sector towards enhancing the resilience of the Treasury market.</span></p>