JPMorgan Chase: The U.S. Department of the Treasury will increase short-term borrowing

JPMorgan analysts pointed out that the U.S. Treasury may increase the scale of short-term borrowing when it announces its quarterly refinancing plan next week. The net borrowing amount aimed at private investors is expected to reach $2.038 trillion this year, rising to $2.202 trillion by 2027.

The issuance scale of short-term bonds is expected to grow earlier, with privately held outstanding short-term Treasury bills increasing by $401 billion in 2026 and by $991 billion in 2027.