Specifically, bond traders were looking at how much upcoming auctions would increase by, and whether the Treasury would also introduce a 2 Month bill auction as some strategists had expected.

Well, the Treasury did all that and more, revealing that it would sell $31BN in 3Y notes on May 8, a $5BN increase vs the $26BN sold last quarter; additionally, the 10Y refunding auction on May 9 will also increase by $1BN to $25BN vs $24BN last quarter, and a similar increase for the 30Y auction, which would increase to $17BN on May 10 vs $16BN last quarter.

That was just the beginning: among the other debt-busting details revealed today were the following 

Treasury to introduce two-month bill later this year

Keeps TIPs auctions unchanged, evaluates new five- year TIPs sale

2-, 3-year note auctions to rise by $1 bln per month

Boosts 5-, 7-, 10-, 30-year debt auctions by $1b

Floating-rate note auctions boosted by $1 bln