The Treasury Department announced plans Wednesday to accelerate the size of its auctions as it looks to handle its heavy debt load and with financing costs rising. The announcement comes with Treasury yields around their highest levels since 2007, a reflection of financial markets spooked over how much damage higher borrowing costs could exact. From there, the department said it will increase the auction size of various maturities, focusing more on coupon-bearing notes and bonds. By the end of January, the auction sizes will show respective increases of $9 billion, $6 billion, $9 billion and $3 billion. Stock market futures came off their lows of the morning following the announcement, while Treasury yields were lower.

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Persons: Deirdre K, Dunn, Colin Teichholtz Organizations: Treasury Department, Treasury, Stock, Federal Reserve Locations: Wall