U.S. yields were little changed after Treasury announced an estimate of $776 billion in borrowing needs for the fourth quarter — less than it had expected in July. The department also expects to borrow $816 billion for the January-March period, bringing the total that needs to be raised through the first three months of 2024 to $1.59 trillion. The estimates come after $1.01 trillion in borrowing during the third quarter gave way to greater anxiety about the U.S. fiscal trajectory. The 10-year yield was at 4.86% after the 3 p.m. Eastern time announcement by Treasury, while the 30-year rate was up at 5.017%.
