The U.S. Treasury General Account (TGA) balance has quietly surged to approximately $950 billion, nearly double the Biden administration's target of $550-600 billion. According to informed officials, Treasury Secretary Scott Bessent can utilize these funds to support the Treasury's recent plan to double the size of long-term bond buybacks to at least $4 billion. This move has pushed the 30-year U.S. Treasury yield to 5.23%, its highest level since 2007.