According to CoinMeta, Bessent plans to utilize $1 trillion in funds to support the U.S. bond market, which is 250 times the amount of the new $4 billion single-lot long-term bond repurchase operation launched by the Treasury Department. According to reports from CNBC, the Treasury Department may use its nearly $1 trillion in general fiscal accounts to fund the expanded bond repurchases. This move could boost bond prices and reduce long-term yields without the need for Federal Reserve intervention. The Treasury Department has doubled the repurchase amount from $2 billion to at least $4 billion per operation, but the market's relief was short-lived, with the 30-year yield rebounding to around 5.25%. This indicates that more support may be needed. Utilizing fiscal cash could also inject a large amount of liquidity into the market, potentially benefiting stocks and cryptocurrencies. Although a full $1 trillion has not been committed yet, this represents the potential firepower of the Treasury Department. The bond market has just come to realize the extent of Bessent's “rocket launcher.”