Last week, the market was quite optimistic ahead of the US Treasury's announcement of a public debt issuance plan for Q4/2023 lower than forecast. This is a welcome signal indicating that the US government is on track to restrain the pace of public debt accumulation, although there is still no specific direction in addressing US public debt at present.
This decision of the Treasury must come from timely consultations by TBAC (Treasury Borrowing Advisory Committee) - the US Treasury's Borrowing Advisory Committee. TBAC includes senior representatives from financial institutions on both the Sell Side and Buy Side in the market (including banks, dealers, brokers and financial funds…).
The information discussed by TBAC with the US Treasury carries significant value reflecting the overall trends in the financial market. Therefore, this week's macroeconomic article from Viet Hustler will summarize the important details in TBAC's presentation to the US Treasury.
