FILE PHOTO: A view of the Goldman Sachs stall on the floor of the New York Stock Exchange in New York, U.S. on July 16, 2013. REUTERS/Brendan McDermid/File Photo

NEW YORK (Reuters) - Goldman Sachs analysts said on Wednesday the U.S. government would likely introduce a two-month bill issue at the November refunding and begin raising the auction size of five-year notes by a greater amount than its recent increase.

“We expect the Treasury to continue to increase coupon security issuance somewhat in the upcoming quarterly refunding, though our recently revised assumptions regarding Fed balance sheet runoff suggest that gross coupon issuance might not need to increase over the next few years quite as much as we had previously projected,” Goldman Sachs analysts wrote in a research note.