US Government Sold $654 Billion of Treasuries this Week, 10-Year Yield Spikes to 4.24%, Highest since Sep 2, despite 3 Rate Cuts

This week, the government sold $654 billion in Treasury securities spread over 9 auctions, including 10-year Treasury notes and 30-year Treasury bonds. Of these auction sales, $500 billion were Treasury bills with maturities from 4 weeks to 26 weeks, most of them to replace maturing T-bills.