The federal government used a series of debt auctions this week to raise the funds necessary to cover its operational budget and maintain liquidity. Nearly $733B of the capital raised through those sales of Treasury bills and notes went toward repaying holders of maturing debt, with the remainder allocated to funding the federal deficit.
The total amount borrowed over the seven day period reached $839B, the largest weekly funding volume in the agency’s history. The U.S. Treasury utilizes these periodic auctions to manage the national debt, though the current volume marks a new high for weekly issuance to global investors.