If they think rates are nearing a bottom, and will go up from here it obviously makes sense. Check out projections of US interest on debt expense. In a few yea

If they think rates are nearing a bottom, and will go up from here it obviously makes sense. Check out projections of US interest on debt expense. In a few years time it may exceed all other spending categories. Much of the US government borrowing is short term. What happens when rates rise? So, it makes sense to lock in as much borrowing they can at low rates.