Archive · Money Market & Front-End Liquidity Update
Archive
FY2027 Gross Bill supply may need to grow by $1.04 trillion, $550-675 billion of it for private investors net of Fed purchases. Refinancing pandemic-era 5s and 7s will push the average rate on Treasury debt to about 3.8% - 3.9% vs. 3.50% currently as Fed delivers another 50bps of hikes.