Treasury to issue a mere $7 trln in Treasuries in FY 2009, borrow net $1.7 trln

A US Treasury official is outlining the Treasury’s borrowing plans for the next fiscal year. The US will sell $7 trln in new paper and will raise $1.7 trln in new borrowing (the balance is rolling over existing debts).

Demand has been tremendous but flight to safety should ease as other markets recovery, Treasury’s Ramanathan, says.