Luke Gromen: Annual U.S. Treasury rollover accelerates as front-end issuance surges - Traders Union
Luke Gromen: Annual U.S. Treasury rollover accelerates as front-end issuance surges - Traders Union
Source: Traders Union
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DW NOTE
The Treasury is refinancing more of its debt pile at the front end because it has no choice — long-term buyers have disappeared. When a government has to shorten maturity to find bids, that's not liquidity management, that's a funding crisis in slow motion. The $1.4 trillion deficit through June means this rollover problem compounds every quarter.