The U.S. Treasury has tripled the size of its next long-term bond buyback to $6 billion, as Treasury Secretary Scott Bessent seeks to curb rising borrowing costs.
- Despite the larger buyback, U.S. Treasury prices fell, pushing the 10-year yield to 4.85%, its highest level since 2023. Investors may have expected stronger intervention.
- Bessent stresses that the expanded buybacks are intended to improve market liquidity and limit sharp moves in yields, rather than alter the fundamental valuation of U.S. Treasuries.
- Interestingly, before the latest move, Bessent had indicated that the scale of buybacks would be “at least doubled.” In the end, it was tripled, yet yields rose even further following the announcement.
The U.S. 10-year Treasury futures contract has fallen to levels not seen since November 2023, with the RSI close to oversold territory. The downtrend has continued virtually uninterrupted since early March 2026.
Source: xStation5
Daily summary: Wall Street falls as oil prices rise 🚩 10-year Treasury yields hit their highest level since 2023
EIA raises oil price forecasts 🍳 What did the STEO report show?
📈 Oil climbs above $100
European TTF gas futures hit highest level since 2022 as inventories remain low ahead of winter
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.