🇺🇸 TREASURY COULD TAP $935 BILLION CASH PILE The US Treasury could use its $935 billion cash stockpile to fund expanded bond buybacks, rather than relying solely on new short-term debt issuance. The move could give Treasury Secretary Scott Bessent more firepower to reduce long-term borrowing costs. Treasuries rallied on the news, with the 10-year yield falling to 4.69%. Using existing cash could make the buyback program more powerful without simply replacing long-term debt with new short-term debt.(*Walter Bloomberg)