U.S. Treasuries fell across the board Tuesday as the government began flooding the market with supply to rebuild its cash balance and start paying for the recently enacted tax cuts. Investors were asked to digest $179 billion in Treasury bills and two-year notes in a matter of hours, resulting in the highest borrowing rates for the government since 2008, according to Bloomberg News’s Alexandra Harris.While that’s good news for savers who have suffered with near-zero rates since the financial crisis, it’s not so good for borrowers. Overall, the government is forecast to at least double its debt sales this year to more than $1 trillion– the most since 2010. In a research note, the strategists at Goldman Sachs wrote that they now see 10-year Treasury yields, which were at 2.89 percent on Tuesday, rising to 3.25 percent, up from their prior forecast of 3 percent.
