美国财政部据报可能动用TGA现金支持长期国债回购

U.S. Treasury Secretary Scott Bessent could tap the Treasury's almost $1T General Account to help fund the government's recently announced plans to increase purchases of long-dated government bonds, CNBC reported on Monday, citing two senior Treasury officials.
The suggestion changes the perception of how the Treasury was expected to fund the purchases. In an interview on Friday, Bessent called the increased purchases of long-dated bonds a "Treasury twist," implying that the practice of selling short-term debt to pay for the the long-term Treasuries. A senior Treasury official did not rule out that option, the report said.
Since the Treasury announced that it would double the size of off-the-run securities on the long end to at least $4B from $2B, the price of bonds has receded from an initial boost. That was partly due to market skepticism that the Treasury's resources for the operation are too limited. Using the General Account could instill some confidence that the Treasury's purchases will be large enough to be effective.
The Treasury officials would not indicate how much, if any, of the TGA would be used for the program or when an announcement would be made, CNBC reported
The officials said no change has been made to the official auction schedule. The first operation for the larger long-dated debt purchases will occur on Sept. 9.
The 30-year bond yield (US30Y) recently traded at 5.24%, down 4 percentage points. On Aug. 19, when the expanded long-term debt buyback plan was announced, the 30-year yield fell to as low as 5.18%. On Friday, it closed at 5.28%.
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