This is interesting

A record $9.3 TRILLION US Federal debt will mature and must be refinanced at much higher rates over the next 12 months.

This is up by a massive $4.7 trillion or 102% in just 4 years.

This comes as the US Treasury switches to issuing shorter-dated maturity bonds with lower interest.

As a result, a record ~33% of debt outstanding has a maturity of less than a year.

Meanwhile, the Fed has dumped ~$1.3 trillion of Treasuries (QT) off of its balance sheet in 2 years while foreign government demand for US bonds has declined.

Who is going to fund all of this debt?