Floods expected turnover this week
The Treasury is scheduled to give a number of bills and noted that the auction today was postponed last week, the legislation has been approved for federal debt ceiling.
The Treasury is scheduled to give a number of bills and noted that the auction today was postponed last week, the legislation has been approved for federal debt ceiling.
Saturday, President Reagan said it would sign legislation raising the ceiling of debt, while he was accompanied by a plan to reduce the deficit, which has not given its consent. The $ 23 billion in savings in the budget in early October-1-projects a deficit of approximately $ 144 billion, and could lead, that the increase in taxes or reductions in military spending, if Congress does not find other ways for budget savings.
In addition, today, placing the regular weekly auction of three-month and six-month bills amounting to $ 12.8 billion, the Treasury had already considered the sale of 9.25 $ one billion a year on bills for tomorrow. Questions have been displaced last week of $ 12.8 billion for a three-month and six-month bills, 9.25 billion dollars over two years, 7.25 billion dollars over four years 6.75 and $ billion over seven years .
Late Friday, the remaining three-month and six-month bills were trading on the rate of 6.54 percent and 6.89 percent, with one year of bills by about 7.21 percent. Two off-notes was the year with a yield of 8.39 percent in four years, 8.93 percent and seven-year, 9.33 percent.
In the bond market long-term financing Corporation expects that its market debut a day of the week with an offer of $ 400 million to $ 600 million of non-callable 30-year bonds. It would be the first of about 10.8 billion dollars in obligations the company expects to sell in the next three to five years. Proceeds from new species to the Federal Savings and Loan Insurance Corporation.
The main borrowing is secured by zero-coupon treasury issues are purchased with a capital of the new company, through the 12 regional Federal Home Loan Banks. Interest is calculated by the deposit insurance premium by savings institutions FSLIC
Earlier this month officials of financing the Corporation believes that the return on bonds may 3 / 4 point more than 30-year Treasury issues.
The new debt issues are scheduled for this week: TAX IN ONE DAY OF THE WEEK American Airlines, $ 92.6 million capital password implementation of parts NR/A-1/A +. Morgan Stanley.
Caesars World Inc., $ 300 million of subordinated bonds maturing 1997, NR/B-1/BB-. Drexel Burnham Lambert.
Comcast, $ 125 million face amount zero-coupon convertible subordinated notes, given 1994. Morgan Stanley.
Commodore Environmental Services, $ 50 million bond senior subordinated bonds due in 1999. Drexel Burnham Lambert.
Doskocil Cos, $ 50 million debt to senior subordinated bonds due 1999. Drexel Burnham Lambert.
IMF financial, economic-$ 285 million senior debt subordinated bonds maturing 1999. Drexel Burnham Lambert.
GACC Holding Co., $ 385 million face Senior zero-coupon notes, given in 1995, and 1996. Drexel Burnham Lambert.
Leisure Technology, $ 60 million is high, due in 1999, NR/B-2/NYR. Merrill Lynch Capital Markets.
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