Danske Bank: The US Treasury's refinancing announcement is not expected to bring any surprises.

Jens Naerving Pedersen of Denmark's Danske Bank stated in a report that the US Treasury is expected to maintain its auction size of Treasury bonds "at least for the next few quarters" when announcing quarterly debt issuance details. The foreign exchange and interest rate strategist said, "We believe the Treasury will maintain its forward guidance of unchanged auction size." He also predicted that the Treasury will continue to rely on issuing short-term Treasury bills to meet additional financing needs. On Monday, the US Treasury lowered its quarterly borrowing estimates by $21 billion to $569 billion.