汇丰：美国国债附息债券拍卖规模将保持稳定，可能更新指引

Core Viewpoint - HSBC's U.S. interest rate strategist Dhiraj Narula predicts that the U.S. Treasury will maintain the auction size of coupon-bearing bonds unchanged through the next quarter and until the end of the fiscal year 2026, indicating a consistent approach since the last increase in issuance size from February to April 2024 [1] Group 1 - The U.S. Treasury is facing ongoing pressure due to a significant annual deficit of nearly $2 trillion, which impacts its issuance strategy [1] - In November, the U.S. Treasury announced that it has "begun preliminary considerations for future increases" in auction size, with upcoming announcements expected to provide updates on these plans [1]