Wall Street Fears Ease Over Treasury Plan to Rebuild Coffers

The Treasury’s plan to replenish its cash buffer after Congress raised the statutory debt limit is unlikely to roil funding markets for now, markets watchers said.

The department announced Tuesday that it expects to boost its cash pile in the Treasury General Account to around $500 billion by the end of July, up from from roughly $313 billion as of July 3, which was before President Donald Trump signed the budget bill that included a $5 trillion increase in the debt ceiling. The Treasury’s bank account had been under downward pressure because of measures to avoid breaching the $36.1 trillion debt cap.