3 Year Note Auction / Consumer Credit

This afternoon at 1:00 PM EST Treasury will auction $32B of 3 yr notes, beginning the quarterly refunding. Tomorrow $24B of a new 10 yr note and Thursday a new $16B 30 yr bond will be auctioned. At 3:00 PM EST this afternoon June consumer credit is expected to be up $10.3B overall but we continue to focus on the revolving credit data that reflects consumer use of credit cards. Consumers continue to reduce debt and spending, the use of credit is a key to consumer sentiment; increasing credit indicates consumers are feeling better about their future.