William Marshall and Bill Zu of Goldman Sachs said that the increase in the size of US Treasury auctions in the future is likely to favor shorter-dated Treasuries. They expect nominal two-, three-, five- and seven-year Treasury auctions to continue to increase, while floating rate notes will increase less, and 10-, 20- and 30-year Treasury auctions will remain stable. This trend is expected to start in November 2026.
They said: "Over time, we expect this to lower the weighted average maturity (WAM) and see the share of short-term Treasuries rise steadily."
However, with the Federal Reserve expected to buy about 50% of net short-term Treasury supply over the next two years, the share of short-term Treasury holdings held by the private sector is likely to remain roughly stable.
Goldman Sachs: US Treasury is expected to increase the size of short-term Treasury auctions
2025-11-06 07:16:47
Disclaimer:
1. The information provided does not constitute investment advice. Investors should make independent decisions and bear all risks themselves.
2. The copyright of this content belongs to the original author. The views expressed herein are solely those of the author and do not represent the stance or position of this website.
Previous article：
高盛：美财政部预计倾向于增加短期国债拍卖规模Next article：
现货黄金重回4000美元/盎司上方，日内涨0.53%
