AI Data Insight
The latest Q3 2026 data shows that the U.S. Treasury General Account (TGA) balance climbed to $795.976 billion, a significant increase from $749.244 billion in the previous week. As the Treasury continues to replenish cash to reach its $1 trillion target, coupled with the overnight reverse repo pool nearly bottoming out, the market worries that the rising TGA will directly erode bank reserves. This liquidity contraction effect may put pressure on risk assets in the short term.