McHenry Says Debt Fight Could Hit Treasuries Harder

• GOP is reallocating campaign funds from less competitive races (e.g., North Carolina) to more urgent ones (e.g., Texas) for the 2026 midterms.
• McHenry urges Republicans to proactively raise the debt ceiling to avoid future political leverage by Democrats and prevent greater Treasury market instability.
• Treasury yields are at 2002 highs, attributed to high global debt/deficits and inconsistent messaging from the Treasury and Federal Reserve.

Patrick McHenry discusses the GOP's midterm election strategy, including shifting campaign funds to more competitive races. He strongly advises Republicans to address the debt ceiling while they control Congress and the White House, warning of potential Democratic leverage and increased Treasury market turmoil if left unresolved. Current Treasury yields are at their highest since 2002.