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More Bill Upsizing As Treasury Cash Heads To $400B+


Treasury announces a $5B increase in both the 4-week and 8-week (to $70B and $60B respectively), with 17-week unchanged at $46B.

  • Taking into account maturing bills, that will translate into +$60B net cash upon settlement next Tuesday.
  • The last Treasury cash balance data we have is from Thurs Jun 15th's close at $250.4B, which was up over $115B on the day (reflecting receipts on the tax deadline).
  • The TGA balance is on track to exceed $300B this week before jumping to over $400B next week (Treasury's expectation as of June 7 was $425B for end-month).

Source: Treasury, MNI

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