Treasury triples long-bond buybacks to $6 billion
The U.S. Treasury has tripled its long-bond buyback authorization to $6 billion in an effort to curb rising borrowing costs, yet the measure has failed to stem the climb in rates. The 10-year yield has now reached a three-year high above 4.83%, with 30-year yields also pressing higher as investors grapple with persistent inflation and a national debt exceeding $40 trillion.
According to GN auto markets/bonds: treasury yields, the 10-year yield has climbed past 4.83% to hit its highest intraday level since November 2023, while the 30-year note also edged up to over 5.28% despite the expanded buyback program.
Source: GN auto markets/bonds: treasury yieldsAccording to reports from GN auto markets/bonds: treasury yields, Treasury Secretary Scott Bessent confirmed the agency will purchase up to $6 billion in long-term bonds to curb rising borrowing costs. He noted that this measure builds on last month's commitment to at least double buybacks to $4 billion, with the goal of constraining 20- to 30-year yields and exerting downward pressure on 10-year rates.
Source: GN auto markets/bonds: treasury yieldsThe U.S. Treasury is set to repurchase $6 billion in long-dated notes. Yields continue to rise despite the increased intervention.
Source: GN auto markets/bonds: treasury yields
