Treasury announced a $36 B 3- and 6-month bill sale for Monday Treasury announced a $36 B 3- and 6-month bill sale for Monday. That's a $4 B cut from last week (each tranche was trimmed $2 B) as the debt managers prepare for a potential debt limit crisis and government shutdown. There will be no Fed add-ons.
Market opens sharply lower, Caterpillar weighing on Dow Stock futures were weak throughout the pre-market trading session following a weak overnight session in Japan and ahead of tonight's much-anticipated speech from Fed' chair Janet Yellen. The negative bias was cemented when Dow member Caterpillar (CAT) announced restructuring plans, including a total workforce reduction of possibly more than 10,000 people, and cut its revenue guidance for this fiscal year and next. In early trading, the Dow is down 211 points, the Nasdaq is down 61 points and the S&P is down 23 points.