Bessent Doubles Bond Buybacks as 30-Year Yield Falls Nearly 10 Basis Points to 5.18%

Treasury Secretary Bessent doubled the size of the government's long-dated bond buybacks, and the 30-year yield fell nearly 10 basis points to 5.18%, off its highest level since 2007. The dollar dropped the most in three months.
An analysis characterized the move as the government stepping in to cap its own borrowing costs, noting that while a buyback can calm a bad day, only a slower economy can actually pull long rates down. $TLT