Bloomberg/Liz Capo McCormick/7-31-2023
“The US Treasury is set this week to begin a ramp-up in issuance of longer-dated securities that’s likely to stretch into next year, forced by a rapidly deteriorating budget deficit and soaring interest rates.”
USAGOLD note: The new bond sales come at a time when the Fed, Japan, and China are no longer buyers. What happens if support doesn’t materialize?