US-Bondmarkt: USA könnten ihre Anleiherückkäufe aus Barreserven finanzieren
Bei seiner überraschenden Offensive hat US-Finanzminister Bessent die Finanzierung offengelassen. Einem Bericht zufolge könnte ein Konto des Finanzministeriums bei der Fed angezapft werden.
The US Department of the Treasury may use some of its cash reserves to fund the announced purchases of long-term government bonds, according to two senior Treasury officials cited by CNBC on Monday. Treasury Secretary Scott Bessent doubled the size of the program to buy long-term bonds from $2 billion to at least $4 billion. Rising yields for these bonds have pushed up financing costs for the government.
While Bessent did not specify how the purchases would be funded, bond dealers had assumed the Treasury would finance the purchases by issuing more short-term debt, such as Treasury bills with maturities of up to one year. The Treasury may instead use its "Treasury General Account" (TGA), which consists of cash parked at the Federal Reserve.
The TGA includes both government tax revenue and expenditures such as Social Security or interest payments.
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