Mark Moss explains how Treasury Secretary Bessent could access nearly $1 trillion from the Treasury General Account to finance bond buybacks. The Treasury unexpectedly doubled the TGA's size, refilling what years of stimulus spending had drained, giving the government new ammunition to support debt purchases.
How high could this go? Bessent could tap nearly $1 trillion in the TGA Treasury General Account to fund bond buybacks, sources say. How? To help fund purchases of government bonds, Bessent has built up the TGA Treasury General Account to about $1 trillion. The Treasury surprised markets last week by doubling the size. So the Treasury surprised the markets. The market weren't ready for this. The market didn't expect them to come in and do this, but they did. They came in super hot. And as I said, Bessent himself said it, this is the signal. The TGA, Treasury General Account, is the ammo of how they're going to protect this. And we did have a high back here after 2020, of course, after, you know, whatever, $10, $20 trillion of stimulus was printed. It's been spent down through the Biden years and now it's refilled and ready to go back to, yeah, buying government debt.
