Wall Street Bank predicts that the US will borrow about 1 trillion US dollars by issuing short-term treasury bonds in the next year to meet growing government financing needs. The Bank of America predicts that in the new fiscal year ending September 2027, the amount of new US loans not included to repay maturing debts will be about 1.07 trillion US dollars; J.P. Morgan Chase expects to issue short-term treasury bonds in 2027 to be about 1.09 trillion US dollars, and Goldman Sachs is expected to be 961 billion US dollars. At a time when the issuance of short-term bonds is increasing, the cost of long-term US borrowing has risen to the highest level since 2007. Treasury Secretary Scott Bessent previously hoped to reduce long-term interest rates by expanding 10-30 year US bond repurchases. The Bank of America predicts that by September next year, the size of America's outstanding short-term treasury bonds will rise to about 8 trillion US dollars, accounting for 24.3% of tradable treasury bonds; Goldman Sachs expects this ratio to rise to 24.3% next year and 24.9% in 2028. This level is close to the high during the pandemic, and the US Treasury Borrowing Advisory Committee previously recommended maintaining a long-term share of short-term debt at around 20%. Analysts said that increasing the issuance of short-term bonds will help reduce current financing costs, but it will also increase the risk of future refinancing. Mark Cabana, head of interest rate strategy at Bank of America, said that the Treasury is balancing supply and demand in the bond market, but issuing a large number of short-term bonds may cause interest expenses to be “larger and more volatile.” At the same time, the Federal Reserve has purchased a large number of short-term treasury bonds this year, and the money market fund's asset size of about 8 trillion US dollars also supports demand for short-term bonds.

Wall Street Bank predicts that the US will borrow about 1 trillion US dollars by issuing short-term treasury bonds in the next year to meet growing government financing needs. The Bank of America predicts that in the new fiscal year ending September 2027, the amount of new US loans not included to repay maturing debts will be about 1.07 trillion US dollars; J.P. Morgan Chase expects to issue short-term treasury bonds in 2027 to be about 1.09 trillion US dollars, and Goldman Sachs is expected to be 961 billion US dollars. At a time when the issuance of short-term bonds is increasing, the cost of long-term US borrowing has risen to the highest level since 2007. Treasury Secretary Scott Bessent previously hoped to reduce long-term interest rates by expanding 10-30 year US bond repurchases. The Bank of America predicts that by September next year, the size of America's outstanding short-term treasury bonds will rise to about 8 trillion US dollars, accounting for 24.3% of tradable treasury bonds; Goldman Sachs expects this ratio to rise to 24.3% next year and 24.9% in 2028. This level is close to the high during the pandemic, and the US Treasury Borrowing Advisory Committee previously recommended maintaining a long-term share of short-term debt at around 20%. Analysts said that increasing the issuance of short-term bonds will help reduce current financing costs, but it will also increase the risk of future refinancing. Mark Cabana, head of interest rate strategy at Bank of America, said that the Treasury is balancing supply and demand in the bond market, but issuing a large number of short-term bonds may cause interest expenses to be “larger and more volatile.” At the same time, the Federal Reserve has purchased a large number of short-term treasury bonds this year, and the money market fund's asset size of about 8 trillion US dollars also supports demand for short-term bonds.