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The U.S. Treasury Department said Wednesday it will more than double the size of its debt buybacks, and yields dropped as someone had finally answered the phone.
Scott Bessent and his team are aiming at the far end of the curve, the 10-to-20 and 20-to-30 year bond investors who have been avoiding Treasuries like gas station sushi since late June. Starting September 9, Bessent and Co. will double how much of that stuff it's willing to buy back, from $2 billion up to at least $4 billion. Traders responded just like 1500 Pennsylvania Ave. hoped they would, with the 10-year yield falling 6 basis points to 4.647%, the 30-year dropping 9 to 5.196%, a level that 24 hours earlier was the highest since 2007. Stock futures cheered from the sidelines.
But here is the plainer version of what the Treasury just did: ***** ody wanted to buy the long bond, so the government is going to buy more of it itself, becoming the customer the market declined to be. Think of it like Bessent lending the bond market its own credit card.
One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here.
#treasury
The U.S. Treasury Department said Wednesday it will more than double the size of its debt buybacks, and yields dropped as someone had finally answered the phone.
Scott Bessent and his team are aiming at the far end of the curve, the 10-to-20 and 20-to-30 year bond investors who have been avoiding Treasuries like gas station sushi since late June. Starting September 9, Bessent and Co. will double how much of that stuff it's willing to buy back, from $2 billion up to at least $4 billion. Traders responded just like 1500 Pennsylvania Ave. hoped they would, with the 10-year yield falling 6 basis points to 4.647%, the 30-year dropping 9 to 5.196%, a level that 24 hours earlier was the highest since 2007. Stock futures cheered from the sidelines.
But here is the plainer version of what the Treasury just did: ***** ody wanted to buy the long bond, so the government is going to buy more of it itself, becoming the customer the market declined to be. Think of it like Bessent lending the bond market its own credit card.
One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here.
#treasury
4 days ago
