US Treasury Enlarged Longer-Term Buyback Hits ~$6B; 10y Yield ~4.85%, 30y ~5.30%

US Treasury yields rose on Wednesday after the Treasury Department announced an enlarged longer-term debt buyback.

Buyback / yields

Treasury plans to buy back $6 billion of longer-term government debt — three times the size of its usual operation — focusing on 10-year and 20-year securities. The move follows Treasury Secretary Scott Bessent’s August 19 announcement that the Treasury would at least double the normal amount of purchases of previously issued securities.

Yield stamps: benchmark 10-year note rises to 4.85%; 30-year bond yield gains to 5.30%; 20-year yield increases to 5.31%.

Dollar / gold color

The US Dollar Index rebounds, erasing earlier losses and returning to flat territory around 98.85 at the time of writing. Rising yields weigh on gold, which gives back part of its earlier daily gains and trades around $4,391 at the time of press — soft prior gold EU reclaim ~$4,400 and silver ~$67.50.

Also see: Gold NY Holds Near $4,400, Rising Over 1% Despite Treasury Buyback Yield Spike.

Also see: GBP/USD Strengthens Above 1.3550 to Near 1.3555 Ahead of US PPI.

Also see: EUR/USD Holds Above 1.1630, Rallies Capped Below Wednesday Highs Ahead of ECB.

Also see: Gold Comes Under Pressure Near $4,383 Ahead of US PPI as Fed Hike Risks Linger.

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