Treasury Secretary Yellen:Treasury never tries to time market in debt management

Treas. Sec Yellen in testimony to Senate Appropriations Committee:

• The treasury never tries to time market in debt management
• Issuance of treasury bills is in line with historical averages.
• We have seen an increase in exports to Russian from China, including dual use goods that can be used to aid Russia’s military
• US need to coordinate Russia sanctions efforts with allies.
• US is continuing to take sanctions against Iran. It is difficult for sanctions to curb shadown fleet of oil tankers.
• Market participants believe that short term rates will come down
• SHort term bill issuance is in line with recommendations from Treasury Borrowing committee
• This is nothing about issuing short term debt, that creates a sugar high for the economy

This article was written by Greg Michalowski at www.forexlive.com.