After the Federal Reserve said it would not buy US treasury notes for reserve management purposes during the next operating period, Wall Street strategists are adjusting their expectations for future monthly treasury bill purchases. The Federal Reserve's decision means that for the first time since the Reserve Management Purchase Program was launched in December 2025, the suspension period will be suspended for the monthly operation period ending September 14. The Federal Reserve said it is still planning to make reinvestment purchases of about 17 billion US dollars during the period. The move came as a surprise to strategists. Previously, the market generally expected that the Fed's policymakers would maintain the reserve management purchase scale at 10 billion US dollars, and the Bank of America even thought there was a possibility that it would increase to 15 billion US dollars. Today, strategists from Bank of America to Wells Fargo and TD Securities expect the suspension of reserve management purchases to continue until at least October before resuming.

After the Federal Reserve said it would not buy US treasury notes for reserve management purposes during the next operating period, Wall Street strategists are adjusting their expectations for future monthly treasury bill purchases. The Federal Reserve's decision means that for the first time since the Reserve Management Purchase Program was launched in December 2025, the suspension period will be suspended for the monthly operation period ending September 14. The Federal Reserve said it is still planning to make reinvestment purchases of about 17 billion US dollars during the period. The move came as a surprise to strategists. Previously, the market generally expected that the Fed's policymakers would maintain the reserve management purchase scale at 10 billion US dollars, and the Bank of America even thought there was a possibility that it would increase to 15 billion US dollars. Today, strategists from Bank of America to Wells Fargo and TD Securities expect the suspension of reserve management purchases to continue until at least October before resuming.