T-notes tender beyond six months may be back today

By Sophia Rodrigues

The decision to issue T-notes beyond six-month maturity is a tricky one for the AOFM, as it needs to balance the slightly elevated cost against lengthening maturity (amid huge government borrowing program) and creating liquidity in that space. So after a pause last week where it restricted the term to six months, it wouldn't be a surprise to see T-notes beyond six months in the tender list for next week.