Market focuses on the latest announcement by the US Department of the Treasury, looking for signals of changes in the bond issuance structure.

Since Scott Bensett took over as Treasury Secretary in January, bond traders have had a 180-degree shift in their views on his issuance strategy in the $29 trillion U.S. Treasury market. Initially, the focus was on how quickly he would increase the issuance of long-term bonds. After all, Bensett and other Republicans had accused former Treasury Secretary Janet Yellen of artificially suppressing the issuance of such debt, saying it was to keep borrowing costs low before the election. However, after Bensett took office, he quickly continued Yellen's debt management plan and repeatedly stated that he would not increase the issuance of medium and long-term bonds due to high yields. The current debate is focused on the extent of the Treasury's issuance tendency towards Treasury bonds. Traders will look for clues in the next official update report on the bond issuance plan released by the Treasury on Wednesday.