Treasury Secretary Bessent announced an upscaled debt buyback operation, at least doubling previous buyback sizes for longer-term debt. The move aims to stabilize the bond market following the 30-year yield hitting a 19-year high earlier this week amid fiscal deficit and inflation concerns.
→ Bond market reaction at Thursday open and whether yields hold lower
→ Fed response to Treasury's market intervention and inflation control implications
→ Equity market sentiment on reduced rate volatility expectations