[US Treasury Weekly Treasury Auction Reaches Record $839 Billion] According to Jinse Finance, on November 5th, the US government borrowed a record $839 billion this week through the issuance of Treasury bills and bonds. The funds raised will be used to repay maturing debt and to raise additional funds needed to finance the federal fiscal deficit. The total issuance of Treasury bills, floating-rate bonds, and 2-year, 5-year, and 7-year US Treasury bonds this week exceeded the record of $795 billion set during the same period last year. The $839 billion represents the total size of 11 Treasury bond auctions, with the majority used to repay maturing Treasury bill holders. The US government actually borrowed only $68 billion, far below the record level. Record new borrowing occurred in March and April 2020, when Treasury bond auctions surged to raise funds for pandemic response measures, with weekly net new financing reaching a peak of nearly $350 billion. The total weekly Treasury bond issuance fluctuates significantly, depending primarily on how much debt matures that week. This week’s record issuance highlights how the U.S. government is forced to conduct increasingly large-scale Treasury auctions as accumulated debt continues to rise and financing costs continue to increase.