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Treasury Borrowing $189B, Yields Rise Post-Fed Cuts

5/10/2026

Summary

Story summary

The Treasury announced April-June borrowing will total $189 billion, $79 billion above the February estimate and $122 billion higher after cash-balance adjustment.
Tax breaks from the One Big Beautiful Bill Act and a Supreme Court ruling could return up to $166 billion to importers.
Siebert Financial CIO Mark Malek said vigilantes, a widening term premium, and retreating foreign-central-bank buyers are pushing yields higher after the Federal Reserve cut rates 175 basis points since mid-2024.

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Story summary

The Treasury announced April-June borrowing will total $189 billion, $79 billion above the February estimate and $122 billion higher after cash-balance adjustment.
Tax breaks from the One Big Beautiful Bill Act and a Supreme Court ruling could return up to $166 billion to importers.
Siebert Financial CIO Mark Malek said vigilantes, a widening term premium, and retreating foreign-central-bank buyers are pushing yields higher after the Federal Reserve cut rates 175 basis points since mid-2024.