SERIES: BAMLH0A0HYM2 (3.26)
VIXCLS (17.2)
INDPRO (103.9506)
UMCSENT (48.1)
CPIAUCSL (336.298)
CPILFESL (338.896)
DCOILWTICO (103.37)
MORTGAGE30US (7.24)
PCEPI (132.257)
ICSA (194000)
PAYEMS (159044)
UNRATE (4.2)
M2SL (23413.9)
NETLIQ (5745.73)
RRPONTSYD (4.375)
WALCL (6745635)
WTREGEN (999727)
DFII10 (2.63)
DGS10 (4.98)
DGS2 (4.61)
FEDFUNDS (3.75)
SOFR (3.94)
T10Y2Y (0.38)
FRED // WTREGEN
U.S. Treasury General Account (TGA) at Federal Reserve
LIQUIDITY Weekly
OBSERVATION DATE: 2026-10-28 • UNIT: $M
LATEST OBSERVATION
999727 $M
PRIOR / PERIOD Δ
952002 (+ 47725.00)
YOY CHANGE
+ 4.36 $M
WTREGEN // U.S. Treasury General Account (TGA) at Federal Reserve ($M)1Y: +41737.00 (+4.4%)
2026-10-28OBSERVATION: 999,727 ($M)
11 S&P 500 GICS SECTOR PEARSON CORRELATION MATRIX VS. WTREGEN SORTED TAILWIND (+r) ──► HEADWIND (-r)
| ETF | GICS SECTOR | PEARSON r | CORRELATION BAR (-1 TO +1) | R² | BETA / REGIME TRANSMISSION |
|---|---|---|---|---|---|
| XLE | Energy | +0.10 r | | 1% | [+0.02% per +1% delta] Modest pro-cyclical beta benefit on rising WTREGEN |
| XLF | Financials | +0.08 r | | 1% | [+0.01% per +1% delta] Low-beta regime neutral across 5Y WTREGEN cycle (261W) |
| XLI | Industrials | +0.04 r | | 0% | [+0% per +1% delta] Low-beta regime neutral across 5Y WTREGEN cycle (261W) |
| XLB | Materials | +0.01 r | | 0% | [+0% per +1% delta] Low-beta regime neutral across 5Y WTREGEN cycle (261W) |
| XLC | Communication Services | +0.01 r | | 0% | [+0% per +1% delta] Low-beta regime neutral across 5Y WTREGEN cycle (261W) |
| XLY | Consumer Discretionary | -0.01 r | | 0% | [0% per +1% delta] Low-beta regime neutral across 5Y WTREGEN cycle (261W) |
| XLP | Consumer Staples | -0.02 r | | 0% | [0% per +1% delta] Low-beta regime neutral across 5Y WTREGEN cycle (261W) |
| XLK | Technology | -0.03 r | | 0% | [0% per +1% delta] Low-beta regime neutral across 5Y WTREGEN cycle (261W) |
| XLRE | Real Estate | -0.05 r | | 0% | [-0.01% per +1% delta] Low-beta regime neutral across 5Y WTREGEN cycle (261W) |
| XLV | Health Care | -0.06 r | | 0% | [-0.01% per +1% delta] Low-beta regime neutral across 5Y WTREGEN cycle (261W) |
| XLU | Utilities | -0.07 r | | 1% | [-0.01% per +1% delta] Low-beta regime neutral across 5Y WTREGEN cycle (261W) |
AI MACRO REGIME IMPACT BRIEF RESTRICTIVE
U.S. Treasury General Account (TGA) at Federal Reserve (WTREGEN) Prints 999727 $M (Prior: 952002 $M)
Cross-asset regression across S&P 500 GICS sectors demonstrates significant factor dispersion to U.S. Treasury General Account (TGA) at Federal Reserve. Portfolio managers utilize WTREGEN inflections to rotate between short-duration cash-flow sectors and long-duration growth multiples.
▲ REGIME TAILWIND SECTORS
XLE // Energy
Modest pro-cyclical beta benefit on rising WTREGEN (Pearson r = +0.10, R² = 1%)
XLF // Financials
Low-beta regime neutral across 5Y WTREGEN cycle (261W) (Pearson r = +0.08, R² = 1%)
XLI // Industrials
Low-beta regime neutral across 5Y WTREGEN cycle (261W) (Pearson r = +0.04, R² = 0%)
▼ REGIME HEADWIND SECTORS
XLU // Utilities
Low-beta regime neutral across 5Y WTREGEN cycle (261W) (Pearson r = -0.07, R² = 1%)
XLV // Health Care
Low-beta regime neutral across 5Y WTREGEN cycle (261W) (Pearson r = -0.06, R² = 0%)
XLRE // Real Estate
Low-beta regime neutral across 5Y WTREGEN cycle (261W) (Pearson r = -0.05, R² = 0%)
HISTORICAL ANALOG // Comparable to 2022–2025 post-ZIRP monetary normalization where real-rate sensitivity dominated equity factor attribution.
EQUITIES MOST SENSITIVE TO WTREGEN STOCK BETA
| TICKER | LAST | % CHG | CORR (r) |
|---|---|---|---|
| NVDA Technology | $213.66 | -0.80% | + 0.00 |
| AAPL Technology | $348.91 | +1.48% | + 0.00 |
| MSFT Technology | $530.14 | -0.16% | + 0.00 |
| GOOGL Communication Services | $283.82 | -12.64% | + 0.00 |
| GOOG Communication Services | $282.32 | -12.29% | + 0.00 |
| AMZN Consumer Discretionary | $243.79 | -4.25% | + 0.00 |
| TSM Technology | $431.81 | -1.75% | + 0.00 |
| SPCX Technology | $143.89 | -0.92% | + 0.00 |
| AVGO Technology | $345.00 | -1.94% | + 0.00 |
| META Communication Services | $624.52 | +1.96% | + 0.00 |