Bessent likely to cut long-bond auction sizes next month and fund the gap with more bills, after years of attacking Yellen for the same move

I'm old enough to remember Scott Bessent criticizing Janet Yellen in 2023-2024 for using Active Treasury Issuance (ATI) to ease financial conditions in the U.S. Now, he wants to reduce long duration Treasury issuance himself💩

But the entire debate seems to overlook one crucial… https://t.co/CpTEJI8tqT pic.twitter.com/OB3M1dH6b7

— Amit Noam Tal (@amital13) October 11, 2026

BREAKING:

🇺🇸 US Treasury is planning to cut auction sizes for long-dated government bonds next month.

It's expected that Treasury will reduce auction sizes by $3 billion per auction for both 20-year and 30-year bonds.

Some banks are even expecting that Treasury will completely… pic.twitter.com/pW8dNbAFat

— The Macro Paper (@macropaperr) October 11, 2026

Citi Warns Bessent Likely to Slash Long-Bond Auctions and Risk Canceling 20-Year Debt

Citigroup strategists released a note projecting that the Treasury will trim long-dated bond sales by $3 billion per auction during its upcoming November refunding announcement. This tactical retreat highlights how fiscal realities are forcing the administration to lean back into short-term debt despite past political rhetoric.