CoinMeta data: The United States may borrow an additional $1 trillion, mainly in short-term debt. Wall Street expects that there will be about $1 trillion in new government bond issuance over the next year, as rising long-term interest rates drive the U.S. towards borrowing in shorter maturities. According to the Financial Times, Bank of America predicts around $1.07 trillion, JPMorgan Chase estimates $1.09 trillion, and Goldman Sachs forecasts $961 billion. These are bank projections, not yet announced government bond plans. The Treasury Department expects to borrow a net $739 billion from the market between July and September, and another $628 billion between October and December, while also indicating that the scale of government bond auctions in October may increase again. Long-term government bond yields have risen to their highest levels in nearly 20 years, with the 30-year rate recently reaching around 5.35%. This has increased the financing pressure on stocks, mortgages, and corporate debt. Short-term borrowing requires frequent refinancing, and if interest rates remain high, the government will have to continuously replace maturing bonds at expensive new rates, which poses refinancing risks.