US Treasury sold $166bn in short‑term bills and $139bn in two‑year and five‑year notes Monday; $44bn seven‑year notes auction Tuesday.
Benchmark 10‑year yield rose 2.8 basis points to 4.338%, its biggest weekly gain since mid‑March, while 30‑year rose to 4.944%.
Two‑year yields climbed 2.6 bps to 3.802% after the auction priced marginally above the bid deadline rate, indicating investor concession demand.
J.P. Morgan expects the Fed to hold rates steady through 2027, with markets pricing a pause into next year and later tightening.