Looks like the Treasury is using 'extraordinary measures' to keep the TGA stable as they juggle things under the Debt Ceiling...
This is a good sign that these morons might actually be starting to figure it all out...
What would have been a very large net disbursement from the TGA and associated price volatility inducing large increase in Reserve Assets in the banking system on Friday was offset by what appears to be Treasury not rolling over the exact amount of Intra-government Series Treasury securities and instead increasing issuance to the public to decrease Reserve Assets at the banks.
TGA (and thus Reserve Assets) maintained complete stability and avoided what could have been at least a volatile price day if not yet another moron induced crash in Risk Asset prices...
