The Shift to Shorter-Dated US Debt Is Only Getting Started (1)

Investors are bracing for Treasury Secretary Scott Bessent to lean more toward shorter maturities in the government’s funding mix to keep down long-term yields amid a mounting debt burden.

Wall Street dealers expect Bessent to signal as soon as Wednesday, when his department releases a quarterly statement on debt sales, that issuance in the $30 trillion Treasury market will keep shifting in that direction.

Strategists at JPMorgan Chase & Co. and Goldman Sachs Group Inc. are among those watching for any appetite at the Treasury to reassess the “optimal” blend of funding heading into 2026. Bessent surprised some in the ...