The two-year Treasury yield rose to its highest since February 2025 on June 22 as markets repriced toward a 2026 Fed rate hike ahead of Thursday's May PCE report.

Who holds the $39 trillion U.S. national debt in 2026? Foreign investors own $9.35T led by Japan, the Fed holds about $4.4T, and federal trust funds hold $7.64T.

The Fed held rates at 3.50 to 3.75 percent on June 17, 2026, but its new dot plot flipped toward a 2026 hike at Kevin Warsh's first meeting. Prime stays 6.75 percent.

Treasury sold $13 billion of 20-year bonds at a 4.927% high yield on June 16, drawing a 2.75 bid-to-cover and 71.2% indirect demand, the strongest 20-year sale since January.

The U.S. debt ceiling caps how much the Treasury can borrow to pay bills Congress already approved. Here is how the $41.1 trillion limit works and when it binds next.

The FOMC is expected to hold rates at 3.50% to 3.75% and the prime rate at 6.75% on June 17, with the new dot plot and a hot May inflation print the real story.

Treasury's $22 billion 30-year auction stopped at 5.02% on June 11, the first back-to-back 5% sales since 2007, days before the June 16-17 Fed meeting.

May CPI rose 0.5% for the month and 4.2% over the year, the first 4% reading since 2023. Core held at 2.9% as the Fed heads into its June 16-17 meeting.

The U.S. prime rate is 6.75%, but the Fed does not set it. Here is how banks derive prime from the federal funds rate and what it means for your loans.

The average rate on U.S. interest-bearing debt rose to 3.353% in May, the highest since October 2025, as low-coupon debt refinances into higher market yields.