The Street’s biggest bond dealers are starting to forecast that the Treasury will reduce the size of its debt auctions in coming months for the first time in three years as government revenue soars.

The Congressional Budget Office estmiated a 2013 budget deficit of $845 billion, the smallest since 2008.

About 8 of the 21 primary dealers who trade with the Federal Reserve say Treasury may cut the amount of notes it offers that are due in five years or less as soon as July.