They’re borrowing to finance projects like new schools, roads and bridges.

The bond market reflects where investors think the economy is headed, long-term.

With fears of tariffs, government debt, and inflation raising longer-term interest rates, shorter-term borrowing can look more attractive.

At a recent bond sale, an issuer navigated the demands of investors with the needs of municipal borrowers looking to finance local infrastructure, including a new recycling facility.

The outcome of the auction will tell us something about how expensive borrowing will be for the government — and for the rest of us.

It has to do with what he considers a troubling trend in U.S. government debt.

That low interest rate period before the pandemic was unusual. We’re probably headed in the other direction.

They’re worried about deficits.

To attract buyers for the bonds that will finance that deficit, the federal government will have to pay higher interest rates.

Historically, bond investors more or less swallow the debt the U.S. government takes on, but this time they may be less inclined to do so.