$9.2 trillion of U.S. government debt will mature in 2025, with $6.5 trillion maturing in June alone.The U.S. government will need to roll over (refinance) a large portion of this debt, essentially borrowing new money to repay maturing bonds.Trump’s Pressure for Rate CutsTrump wants the Fed to cut interest rates, hoping this will lower government borrowing costs (bond yields).The aim is to minimize interest expenses on the newly issued debt in June 2025.But Fed Cuts Don’t Guarantee Lower Long-Term YieldsFed rate cuts help more on the short end of the yield curve; long-end yields may remain sticky or even rise if inflation expectations stay elevated or market confidence in U.S. fiscal credibility weakens.Investors in long-duration Treasuries demand a higher yield if they fear inflation or d