Treasury Secretary Steven Mnuchin speaks during the U.S. Conference of Mayors winter meeting in Washington, Thursday, Jan. 24, 2019. (AP Photo/Jose Luis Magana)
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The U.S. Treasury Department is set to maintain elevated sales of long-term debt to finance the government's widening budget deficit, with new issuance projected to top $1 trillion for a second-straight year.Cantor, along with dealers including Citigroup Inc., TD Securities, Deutsche Bank AG and Wells Fargo Securities, sees the Treasury keeping auction sizes unchanged for nominal coupon-bearing debt.After focusing last year on increasing nominal debt, prior guidance from the Treasury has dealers saying more detail is likely in the coming months on plans to boost auction sizes for Treasury Inflation-Protected Securities.The fiscal 2018 U.S. budget gap hit a six-year high of about $780 billion, and the Congressional Budget Office forecasts it will reach $973 billion in 2019 and top $1 trillion the next year.
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