Treasury Issuance

Treasury issuance means the U.S. government selling new Treasury securities to borrow money. In simple terms, it is the creation and sale of new government debt. Treasury issuance is important because large issuance can affect bond supply, yields, and investor demand. If investors worry there is too much debt supply, longer-term yields may rise. For example, the Treasury may increase issuance to fund government deficits and refinance maturing debt. Treasury issuance is not the same as total national debt. Issuance refers to new debt being sold, while national debt is the total amount owed over time.