Here's the spark that lit today's bounce.
US 30-year yields hit 5.337% — highest since 2007. Then Treasury stepped in, announced they're at least doubling long-term buybacks. Yields dropped fast to ~5.19%.
What they did: Treasury's raising the buyback limit on 10–30yr bonds from $2B to at least $4B per operation. Program runs Sept 9 to Nov 4. Official line? "Supporting market liquidity."
Translation: Treasury buys its own bonds → demand rises → prices up → yields ease.
That's what the market wanted to hear.
Lower yields = looser financial conditions. Equities rallied. $BTC followed.
Treasury says "we're not doing this to suppress yields," but the timing speaks:
30yr hits 19-year high → buybacks double → yields collapse → risk-on.
Coincidence? I'm not reading it that way.
Either way — we're clear for now. Structure improving, pressure off. Watch how this holds into the weekend.
US 30-year yields hit 5.337% — highest since 2007. Then Treasury stepped in, announced they're at least doubling long-term buybacks. Yields dropped fast to ~5.19%.
What they did: Treasury's raising the buyback limit on 10–30yr bonds from $2B to at least $4B per operation. Program runs Sept 9 to Nov 4. Official line? "Supporting market liquidity."
Translation: Treasury buys its own bonds → demand rises → prices up → yields ease.
That's what the market wanted to hear.
Lower yields = looser financial conditions. Equities rallied. $BTC followed.
Treasury says "we're not doing this to suppress yields," but the timing speaks:
30yr hits 19-year high → buybacks double → yields collapse → risk-on.
Coincidence? I'm not reading it that way.
Either way — we're clear for now. Structure improving, pressure off. Watch how this holds into the weekend.