律动BlockBeats|11月 06, 2025 07:12
[Goldman Sachs: U.S. Treasury Likely to Favor Increasing Short-Term Treasury Auction Sizes]
BlockBeats News, November 6, Goldman Sachs' William Marshall and Bill Zu stated that the U.S. Treasury is likely to favor increasing the auction sizes of shorter-term Treasuries in the future. They anticipate that the auction sizes for nominal 2-year, 3-year, 5-year, and 7-year Treasuries will continue to grow, while the increase for floating rate notes will be smaller. Meanwhile, the auction sizes for 10-year, 20-year, and 30-year Treasuries are expected to remain stable, with this trend likely beginning in November 2026.
They stated: "Over time, we expect this will reduce the weighted average maturity (WAM) and see the share of short-term Treasuries steadily rise." However, given that the Federal Reserve is expected to purchase approximately 50% of the net short-term Treasury supply over the next two years, the share of short-term Treasuries held by the private sector may remain roughly stable. (Jin10)
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