Originally, the note sale was to have been for $150 million.
But today's short-term note sale is an entirely different matter.
He said that the sale of 3-year and 10-year notes this week would only fuel the market's anxiety.
The note sale had originally been scheduled for last Wednesday.
The funding was to be raised through the sale of convertible notes.
The $12 billion sale of 10-year notes yesterday afternoon was met with weak demand.
At the last sale of four-year notes, on March 29, the average yield was 9.70 percent.
An $8 billion sale of new seven-year notes will take place on Wednesday.
The yield was up, however, from an average rate of 7.85 percent at the last 10-year note sale on Feb. 6.
At the last sale of seven-year notes, the average yield was 7.02 percent.
