Posted 10/27/2023, 3:51:00 PM
Treasury Borrowing Surges, Pushing Yields to 15-Year Highs
- Treasury expected to borrow $1.4-1.5 trillion in Q4 2022 and Q1 2023 due to ongoing spending needs
- Heavy borrowing driving recent sharp rise in long-term yields, hitting highest since 2007
- 10- and 30-year yields up over 1 percentage point since July
- Treasury likely to announce slight slowing of borrowing increases for long-dated debt
- Auction announcements to overshadow Fed policy update as focus stays on borrowing needs
