The U.S. Treasury did not signal a reduction in long-term bond auction sizes; long-term bond yields rise.

According to The Wall Street Journal, the US Treasury Department did not explicitly indicate it would reduce the size of long-term Treasury auctions, causing a slight rise in long-term US Treasury yields. Before the release of the quarterly refinancing announcement on November 4, the Treasury solicited opinions from bond dealers, asking how to adjust Treasury auction sizes in consideration of future borrowing and investor demand. However, the Treasury did not provide a clear signal that a reduction in long-term issuance is likely in the near term. Previously, some investors expected that given the Trump administration's desire to suppress Treasury yields, the Treasury might consider reducing the supply of long-term Treasuries.