Bessent’s Treasury Sticks With Yellen-Era Long-Term Debt Plan
- New Treasury chief had criticized predecessor’s strategy
- US sees current auction sizes for at least several quarters
Scott Bessent
Photographer: Al Drago/BloombergThis article is for subscribers only.
The US Treasury on Wednesday maintained its guidance on keeping sales of longer-term debt unchanged well into 2025, despite newly installed Secretary Scott Bessent having criticized the issuance strategy of his predecessor before he was picked for the job.
At the helm of US debt management policy for the first time, Bessent left broadly intact former Secretary Janet Yellen’s agenda. The Treasury will next week sell $125 billion of debt in its so-called quarterly refunding auctions, which span 3-, 10- and 30-year maturities, the same amount as in the past several quarters.