SENIOR TREASURY OFFICIALS: BESSENT COULD USE $1T OF RESERVES TO BUY BACK BONDS
- Treasury officials said the government could tap the Treasury General Account (TGA) to help finance purchases of U.S. government bonds, as per CNBC.- Treasury Secretary Scott Bessent has built the TGA balance to roughly $950 billion.- Treasury surprised markets last week by doubling the size of its bond buybacks, though the effect on yields faded quickly as investors questioned how much firepower Bessent actually has.if Bessent is ready to pump $1T into bonds…well it means we’ve got desperation in the credit markets but I wonder if $GLD & $Grayscale Bitcoin Mini Trust ETF(BTC.US) take off even further because of that…Source: amit
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