Treasury Cash Falls From 5-Year High

The U.S. Treasury's cash account at the Federal Reserve, the TGA, fell $88.6 billion to $951.6 billion on October 30, according to the Daily Treasury Statement. The biggest outflow of the day was $37.6 billion in Medicare drug payments. On October 27 it had reached $1.053 trillion, its highest since March 2021. Money leaving the TGA flows back into bank reserves, adding liquidity to the system ($TLT).