Economist expect Treasury rates to rise going forward; here’s why. Government debt sales are set to double to $1.3 trillion in 2018, tops since 2010. Moreover, the Fed will be shrinking its balance sheet and will thus be a net seller of Treasuries. Therefore, buyers other than central banks such as pension funds, banks, private-equity, and insurance companies will rise to 60% of purchases by 1/1/2020, up from 54% today.