According to CoinMeta, HSBC analyst Dilagji Narula stated in a report that the U.S. Treasury Department is not expected to adjust the scale of interest-bearing Treasury bond auctions for the quarter from November to January of the following year, but may revise future issuance guidelines to pave the way for adjusting the supply structure of Treasury bonds next year. The U.S. Treasury Department will release a quarterly refinancing announcement on Wednesday, detailing the specific issuance structure. HSBC expects that starting from May 2027, the U.S. Treasury Department may slightly reduce the issuance of 20-year and 30-year Treasury bonds, while increasing the issuance of 2-to-5-year Treasury bonds.