US Treasury yields rose modestly in Asian trade on Tuesday after reports the Treasury is considering using funds from its Treasury General Account to finance Treasury repurchase operations. ING Americas head of research Padhraic Garvey said the financing source itself would not materially affect long-term yields; only an expansion in the scale of long-dated Treasury repos would likely move long yields, and whether repo funding comes from issuing T‑bills or drawing down the general account should

US Treasury yields rose modestly in Asian trade on Tuesday after reports the Treasury is considering using funds from its Treasury General Account to finance Treasury repurchase operations. ING Americas head of research Padhraic Garvey said the financing source itself would not materially affect long-term yields; only an expansion in the scale of long-dated Treasury repos would likely move long yields, and whether repo funding comes from issuing T‑bills or drawing down the general account should not change that outcome.