IF THIS AUCTION FAILS NEXT WEEK, EVERY LOAN IN AMERICA GETS MORE EXPENSIVE
It issues $125 billion in new debt to repay $96.3 billion maturing on August 15, and keeps an extra $28.7 billion in cash. – 3-year note: $58 billion on August 11 – 10-year note: $42 billion on August 12 – 30-year bond: $25 billion on August 13 Mortgage...