Treasury keeps the November refunding at $125 billion, with coupons unchanged for several quarters
On Wednesday, November 4, 2026, the Treasury Department said it is offering 125 billion dollars of Treasury securities to refund approximately 97 billion dollars of privately-held notes and bonds maturing on November 15, 2026, raising about 28 billion dollars in new cash. The securities are a 58 billion dollar 3-year note, a 42 billion dollar 10-year note, and a 25 billion dollar 30-year bond, auctioned November 9, 10, and 12 and settling November 16. Treasury anticipates maintaining nominal coupon and FRN auction sizes for the next several quarters. It anticipates buying up to 70 billion dollars of off-the-run securities for liquidity support this quarter and converting the 7-year note to a quarterly new issue beginning March 2027. End-of-December cash is assumed at 850 billion dollars.
- November refunding offering amount
- $125B
- Privately-held notes and bonds maturing November 15, 2026 (approx.)
- $97B
- New cash raised from private investors (approx.)
- $28B
- 3-year note offering amount
- $58B
- 10-year note offering amount
- $42B
- 30-year bond offering amount
- $25B
- Liquidity-support buybacks this quarter (up to)
- $70B
- Assumed Treasury cash balance, end of December 2026
- $850B
Source: Quarterly Refunding Statement of Assistant Secretary for Financial Markets Hunter McMaster (November 4, 2026) — U.S. Department of the Treasury.
all 8 figures found at the source
- found November refunding offering amount = $125B — at U.S. Department of the Treasury
- found Privately-held notes and bonds maturing November 15, 2026 (approx.) = $97B — at U.S. Department of the Treasury
- found New cash raised from private investors (approx.) = $28B — at U.S. Department of the Treasury
- found 3-year note offering amount = $58B — at U.S. Department of the Treasury
- found 10-year note offering amount = $42B — at U.S. Department of the Treasury
- found 30-year bond offering amount = $25B — at U.S. Department of the Treasury
- found Liquidity-support buybacks this quarter (up to) = $70B — at U.S. Department of the Treasury
- found Assumed Treasury cash balance, end of December 2026 = $850B — at U.S. Department of the Treasury
This page is one print. The daily brief for November 4, 2026 is the editor's cut of what mattered that day. Figures are as the named sources printed them. The methodology says how this page is made and what is checked.