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Bessent seen rebuffing Wall Street on guidance for U.S. debt sales
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DNyuz
Treasury Secretary Scott Bessent’s debt-management team has rebuffed Wall Street suggestions to tweak its guidance for future sales of US Treasuries for so long now that many dealers have abandoned predicting a change anytime soon.
Bessent since taking office has relied on bills, which mature in up to a year, to meet the government’s increasing borrowing needs.
Since the last refunding in May, dealers have pushed out the date by when they anticipate the Treasury will boost coupon sales, with many gravitating toward May 2027.
Minority ViewSome banks, including Deutsche Bank AG, Wells Fargo and CIBC Capital Markets, do see the Treasury tweaking Wednesday’s guidance in order to tee up an earlier shift to larger coupon sales.
The post Bessent seen rebuffing Wall Street on guidance for U.S. debt sales appeared first on Fortune.