P.M. BRIEFING : U.S. Delays 52-Week Bill Auction
<i> From Times Wire Services</i>
WASHINGTON —
The Treasury postponed today’s auction of 52-week bills because Congress has failed to extend the federal debt limit, the agency said in a statement.
The Treasury had said Oct. 12 that it would auction $10.75 billion in bills today, to be issued Oct. 25.
However, the government’s current $3.195-billion debt ceiling reverts to $3.12 billion at midnight Friday, leaving the Treasury no authority to issue the bills next week.
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