Report: Bessent May Tap Nearly $1 Trillion Treasury Account to Fund Bond Buybacks

U.S. Treasury Secretary Bessent may tap nearly $1 trillion from the Treasury General Account (TGA) to fund expanded U.S. Treasury buybacks, according to reports. The move aims to dispel market doubts over the source of buyback funding, providing ample ammunition to push down long-end Treasury yields, while avoiding seeking assistance from the Federal Reserve or over-relying on short-term Treasury issuance.