US Treasury plans up to $6 billion government bond buybacks
Business
The US Treasury is stepping up its game, planning to buy up to $6 billion in longer-term government bonds, triple what it aimed for just a few weeks ago.
Treasury Secretary Scott Bessent says the move is meant to keep borrowing costs steady and boost confidence in the bond market.
US 10-year yield rises to 4.83%
Right after the announcement, the 10-year US Treasury yield nudged up to 4.83%, showing some investors expected an even bigger move.
Since bringing back these buybacks in 2024, the Treasury has hit its full target almost every time.
Bessent even called this a "Treasury twist," nodding to an old-school Federal Reserve strategy for keeping borrowing costs under control.