US to issue ~$1tn in T-bills as Bessent targets long-term rate rise

The US Treasury is expected to issue roughly $1 trillion in short-term debt, increasing reliance on T-bills as Treasury Secretary Scott Bessent aims to contain rising long-term borrowing costs. This shift in issuance strategy signals a deliberate effort to manage the yield curve, though it risks adding to short-term supply pressures. The move matters as it could influence liquidity conditions and the trajectory of long-term rates.