Treasury Has More Than Doubled Bond Buybacks, but 10-Year Yield Still Hits 5.34%, Highest Since 2002

The U.S. government is trying to stop the bond selloff, but it is not working, according to the author.
The Treasury has more than doubled its bond buybacks, yet the 10-year yield still hit 5.34%, its highest since 2002.
30-year mortgage rates just jumped to 7.28%, the highest since 2023, and inflation has stayed above 2% for over five years straight.