Treasury retiring the 3 year bond…again
You will no longer be able to buy new 3 year U.S. Treasuries after next week. The ostensible reason for the retirement? Improved budget deficits. The last time I checked (and I just did so I could write this sentence), the 2007 budget deficit is projected by the Congressional Budget Office to be $172B. That number doesn’t even include the ‘emergency supplementals’ for funding two wars. Whatever.
I didn’t even know there was a 3 year Treasury. But the article explains that, too. Turns out it was retired in 1998 and reintroduced in 2003 to fund Iraq. As many of you know, the 30 year note was reintroduced last year after a four-year hiatus.
