Treasury Borrowing

• The Treasury Borrowing Advisory Committee (TBAC) submitted a report to the Secretary of the Treasury on August 4, 2026, analyzing recent global market influences. • The report highlights how the Iran conflict significantly impacted energy prices, with Brent crude peaking near $126 in the spring before dropping to the low-$70s by June. • This volatility underscores the sensitivity of global financial markets to geopolitical instability and energy price fluctuations.

• The Trump Administration issued an economy statement to the Treasury Borrowing Advisory Committee highlighting a strong national economic performance. • Growth is primarily driven by robust business investments in intellectual property and equipment, alongside solid household consumption. • Current data regarding sales, earnings, and investments suggest the economy is well-positioned for continued expansion.