MarketWatch/Joy Wiltermuth/5-24-2023
“Treasury bills are debt issued by the U.S. government that mature in four to 52 weeks. New bill issuance could reach about $1.4 trillion through the end of 2023, with roughly $1 trillion flooding the market before the end of August, according to an estimate from BofA Global strategists. They expect the deluge through August to be about five times the supply of an average three-month stretch in years before the pandemic.”
USAGOLD note: If it’s not one thing, it’s another. This situation could seriously impact rates if sufficient demand doesn’t materialize. Then again, there is always the printing press if things get out of hand.