Photo: The U.S. Capitol building as visitors gather at the base of the Washington Monument in Washington, D.C., on December 18, 2021. The U.S. Capitol building as visitors gather at the base of the Washington Monument in Washington, D.C., on December 18, 2021.

The barrage of fresh Treasury bills poised to hit the market over the next few months is merely a prelude of what's yet to come: a wave of longer-term debt sales that's expected to drive bond yields even higher.

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