Treasury Announces Debt Management Steps to Ease Bond Market Pressures

Treasury Department said it would issue more short-term debt to help relieve pressure on longer-dated bonds.

Benchmark 10-year Treasury yield fell sharply after announcement, providing relief to investors.

Federal deficit increased $320 billion through September, with rising interest costs accounting for half.

Investors worried about finding buyers for the government's swelling debt pile as foreign buyers pare back.

Treasury to borrow $776 billion in 4th quarter, a record high, though less than previous $1 trillion estimate.