Treasury's $4 Billion Buybacks Aim to Combat 5.247% Yield

Scott Bessent, U.S. Treasury official, announced a doubling of liquidity-support buybacks for Treasuries from $2 billion to at least $4 billion per operation, starting September 9 and running through the November 4 quarterly refunding. Despite this, the 30-year yield increased to 5.247% within 24 hours, reversing gains made earlier. Usable funds from the Treasury General Account (TGA) are estimated between $100 billion and $200 billion. This situation highlights ongoing challenges in lowering long-term Treasury yields, creating implications for market stability and investor confidence.