FINANCE

Treasury to Announce Refunding Plan: The Treasury Department estimated that it will need to borrow $84.7 billion during the January-March quarter. It will announce on Wednesday how it plans to sell the debt, including the makeup of the huge refinancing auctions next week. In past refundings, the debt was divided among three- and 10-year notes and 30-year bonds. There has been speculation that the Treasury may reduce the sale of 30-year bonds in an attempt to save money by issuing more short- and medium-term paper at 5% or 6% rather than the nearly 8% interest earned on 30-year securities.