The US Treasury expects to borrow $739 billion from July through September while paying investors to hand back some of its older bonds. The pairing looks self-defeating because both transactions involve the same issuer. However, they are on separate ledgers and solve separate problems: auctions...
Source: [CryptoSlate](https://cryptoslate.com/how-739b-in-new-us-debt-could-absorb-cryptos-liquidity-before-buybacks-even-reach-bitcoin/)