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JPMorgan Chase & Co. Message Board

  • flashcrashcoming flashcrashcoming Oct 23, 2012 12:57 AM Flag

    U.S. Treasury shortage possible in 2013: SocGen


    U.S. Treasury shortage possible in 2013: SocGen

    By Chris Oliver
    HONG KONG (MarketWatch) -- U.S. Treasurys could be in short supply if no action is taken to extend tax breaks on high-income earners set to expire in 2013, according to French bank Societe Generale. If the tax increases set to kick in next year are not repealed, and other spending caps also come into effect, the supply of new Treasury issuance will drop 30% in each of the next two years, as the federal budget deficit is pared, according to SocGen. The bank forecast Treasury supply will fall to $821 billion in the fiscal year that began Oct. 1, down from $1.126 trillion in the prior fiscal period. Further pressure will be seen if the Federal Reserve continues its $45 billion monthly bond-buying program, SocGen said. The French bank forecast that the net supply of Treasuries available to investors will drop to $280 billion in fiscal 2013.

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