Bloomberg Surveillance · Thursday, August 27, 2026
Andrew Sheets discusses the Treasury General Account (TGA) as a potential tool for funding buybacks, noting it could hold between $80 to $200 billion. However, he points out the TGA also serves as a buffer during debt ceiling showdowns, which could re-emerge as a political issue.
“But the Treasury general account, as you mentioned, is much larger. And our interest rate strategy team, they published a report recently on this. you know, they, they think maybe, you know, 80 to 200 billion is kind of a level of, of, of potential, uh, potential firepower that could be there.”
“So, you know, those are large numbers, but, you know, there are, there are challenges, you know, to that, that treasury general account is the buffer that is utilized if there's a debt ceiling showdown and, you know, you're we're not that far away from the midterm elections.”