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Wall Street Braces for Biggest Overhaul of Treasury Sales Guidance Since 2024

By ChordNews · First written

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Summary

Wall Street is bracing for the biggest revamp in guidance on US Treasury debt issuance since early 2024. Dealers were surprised by Treasury Secretary Scott Bessent's willingness to intervene in the bond market to drive down yields in recent months. Many dealers expect the Treasury Department to change the guidance in its quarterly policy statement on Wednesday, which could pave the way for cuts in 2027 to sales of the longest-dated debt.

Later: Treasury opens door to changes in how it finances growing U.S. debt · US Treasury Revamps Debt-Sale Guidance, Signaling Possible Auction Changes Ahead · Wall Street Sees US Hitting $41.1 Trillion Debt Cap in February

Timeline

  1. Bloomberg

    Source ↗

    Bloomberg reports that Wall Street is girding for the biggest revamp in guidance for US Treasuries issuance since early 2024, after Bessent surprised dealers with his willingness to intervene in the bond market to drive down yields.

  2. Bloomberg

    Source ↗

    Bloomberg's video report says many dealers expect the Treasury Department to alter its issuance guidance in its quarterly policy statement, and that Wednesday's announcement could pave the way for potential cuts in 2027 to sales of the longest-dated debt.

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