@thewallstreetskinny: So how will we actually know which option the Treasury chose? Well…there isn’t exactly pink or blue confetti and an announcement on social media. Traders and analysts might watch the Daily Treasury Statement to see if the TGA balance drained on buyback settlement days, as well as weekly bill issuance announcements to see if T-bill or cash management bill issuance increases to match the purchases. But the OFFICIAL record comes in the quarterly refunding statement...which it just so happens is slated to be released the day after the midterm elections 👀 Check out Substack for our full breakdown of this topic so you don't miss Part II, where we dive into FX interventions...