Treasury Cash Falls From 5-Year High

The U.S. Treasury's cash account at the Federal Reserve, the TGA, fell $20.8 billion to $930.8 billion on November 2, according to the Daily Treasury Statement. The biggest outflow of the day was $33.5 billion in interest on Treasury debt. 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).