Uncle Sam Sets Record For Debt Offering This Week - $123,000,000,000

This week the Fed will have a four part, four day Treasury auction.

• Monday $7,000,000,000 - 5 Yr Inflation Index Securities

• Tuesday $44,000,000,000 - 2 Year Notes

• Wednesday $41,000,000,000 - 5 Year Notes

• Thursday $31,000,000,000 - 7 Year Notes

I have 2 comments.

First, the use of all the zeros is deliberate. Somehow, $123B isn’t quite as impactful and we should all be paying attention to these numbers. Remember, 123B or b (for billion) means $123 THOUSAND MILLION DOLLARS!

Second, ...this Uncle Sam... has anyone seen his credit score lately?