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2026-11-07 01:14:26
A report released by Bank of America strategists Katie Craig and Mark Cabana indicates that the Treasury's General Account (TGA) balance will subsequently be larger than the market had previously anticipated. This change will simultaneously bring forward the timing of the debt ceiling's implementation and the time when the Treasury's room for unconventional operations will be exhausted. The two strategists currently judge that the debt ceiling will become a hard constraint in February 2027, much earlier than their previously mentioned May. They maintain their assessment that the "X-date" will fall in November 2027, while also noting that the Treasury could "uneasily approach" this point as early as August 2027.
