Treasury Eyes $1.5b Bond Issue in U.S.

Previous issues in 2008 and 2009 were also for $1.5 billion each, but this time around the offering may grow to $2 billion because of the government's huge borrowing needs.

The government plans to raise $1.5 billion and perhaps more in a bond issue in New York no later than January as part of its efforts to cover next year's yawning budget deficit.