Treasury officials said the shift was small, and some dealers expected an even bigger slowdown in longer-dated issuance.
The bond selloff has sent yields to the highest levels since before the global financial crisis
The Treasury market is on course for an unprecedented third year of losses.
Recent inflation data could weigh in favor of three cuts in 2024, versus four, bank analysts wrote.
“The Fed should be done," the strategist said.
Economic data will be key to divining the Fed's course and value in the bond market.
The U.S. economy continues to defy recession die-hards who went heavy into bonds at the start of the year.
Bank strategists are warning investors to brace for conditions that prevailed before the global financial crisis.
Average year-to-date returns in Treasurys have dipped into negative territory, according to Bloomberg.
PGIM Fixed Income is among fund managers looking to capture windfall profits with 20-year bonds.
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