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Posts Tagged: “short-term debt“
Is the Treasury’s Issuance Strategy a Stealth Bailout?
After once criticising former Treasury Secretary Janet Yellen’s strategy of increasing the Treasury’s share of short-term debt issuance, Scott Bessent has decided to continue the same strategy. It’s part of the Trump administration’s bid to keep long-term interest rates down. But by using fiscal tools to provide low-cost liquidity to financial markets, it’s a bailout […]
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Treasury Adds $1.1T of debt in last 4 months and $2T YTD
Current Trends The Treasury has still been issuing tons of short-term debt to finance exploding deficits. In the last 4 months, $1.1T in new debt has been added, with the vast majority being financed by debt maturing in less than 10 years. Over $400B has been debt maturing in less than 1 year. This will […]
Yellen Continues Betting on Interest Rate Declines
In February, the data showed that Yellen was making a big bet that long-term rates would not stay elevated for long. This was demonstrated by the volume of short-term debt issuance. The Treasury was willing to pay higher rates to keep the maturity of the debt shorter.