US Treasury signals year-end bond supply will be lower than forecast, but an uptick is ahead

• The Treasury Department plans to borrow $776 billion in the last three months of 2023.
• That is $76 billion below its earlier estimate and marks a slowdown from last quarter's borrowing spree.
• But at the start of 2024, the Treasury projects $815 billion in bond issuance.

US bond yields pulled back Tuesday after the Treasury Department signaled debt-issuance plans for the end of 2023 that were below previous estimates.