U.S. Treasury Plans $6 Billion 10- to 20-Year Bond Buyback
By Jessica Coacci
The U.S. Treasury raised the size of its planned buyback operation for Treasurys maturing in 10 to 20 years to $6 billion, triple the typical amount.
The Treasury Department said last month that it would at least double buybacks of longer-term bonds to $4 billion.
The U.S. 10-year Treasury yield rose after the announcement to 4.83% from 4.81%. The 30-year yield rose to 5.29% from 5.26%. The 2-year yield has remained largely stable at 4.41%.
Treasury Secretary Scott Bessent said he doesn't believe Treasury yields reflect the underlying fundamentals following the announcement to increase buybacks in longer-end bonds. Separately, he said he doesn't believe he could change the equilibrium price of Treasurys.
Instead, Bessent said his job is to "speed things down" and make sure market participants know that things may not be on "a one-way trip."
Long-dated bond yields have risen globally amid concerns of mounting government debt, broader economic uncertainty and inflation from higher oil prices tied to the conflict in Iran. Brent oil crossed above $100-a-barrel for the first time since July on Wednesday after the latest round of strikes in the Middle East.
The buyback operation is scheduled for Thursday.
Write to Jessica Coacci at jessica.coacci@wsj.com
(END) Dow Jones Newswires
September 09, 2026 11:33 ET (15:33 GMT)
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