The US government raised $839bn this week via Treasury bill, floating-rate note and 2-, 5- and 7-year note auctions, topping last year’s $834bn record. The total came from 11 auctions and was largely used to repay maturing T-bill principal; net new borrowing was only $106bn. Weekly net issuance previously peaked near $362bn in March–April 2020 amid pandemic funding. Mischler Financial Group’s head of rates sales and trading warned the record weekly issuance could prompt investors to demand highe

The US government raised $839bn this week via Treasury bill, floating-rate note and 2-, 5- and 7-year note auctions, topping last year’s $834bn record. The total came from 11 auctions and was largely used to repay maturing T-bill principal; net new borrowing was only $106bn. Weekly net issuance previously peaked near $362bn in March–April 2020 amid pandemic funding. Mischler Financial Group’s head of rates sales and trading warned the record weekly issuance could prompt investors to demand higher yields.