Wall Street braces for biggest Treasury issuance shift in years

Wall Street is bracing for a major adjustment to U.S. Treasury issuance guidance, with many dealers expecting the Treasury Department to revise its issuance guidance in its quarterly policy statement. Some dealers predict the Treasury will announce cuts to the issuance size of 20-year and 30-year bonds; others believe the Treasury will maintain existing guidance and keep auction sizes unchanged. The Treasury's quarterly refunding statement may also introduce new guidance on Treasury buybacks, with most investors expecting officials to maintain the current plan: $6 billion per month in buyback capacity for each of the 10-year to 30-year maturities.