The 30-year Treasury hit a 19-year high. Then Treasury blinked.
On Aug 19 the US Treasury doubled its long-dated buyback operations to at least $4B each from $2B, running Sept 9 to Nov 4, after the 30-year yield topped 5.3% - its highest since 2007 (CNBC). Yields fell about 16bp on the news, then erased most of that relief within two days. Bessent has since said he is ready to go bigger.
That is the government bidding for its own long bond to keep the curve orderly - liquidity support without the Fed, with US debt near $40T. It is the exact backdrop hard assets get repriced into.
$BTC is back near $78K, up roughly 23% on the week and the highest since May. $ETH is the liquidity beta here, $XAUT the pure hedge.
Does a bigger buyback signal a floor under risk - or a louder alarm?
#Write2Earn #Bitcoin #Macro #BondYields #CryptoNews
Not financial advice. DYOR.
On Aug 19 the US Treasury doubled its long-dated buyback operations to at least $4B each from $2B, running Sept 9 to Nov 4, after the 30-year yield topped 5.3% - its highest since 2007 (CNBC). Yields fell about 16bp on the news, then erased most of that relief within two days. Bessent has since said he is ready to go bigger.
That is the government bidding for its own long bond to keep the curve orderly - liquidity support without the Fed, with US debt near $40T. It is the exact backdrop hard assets get repriced into.
$BTC is back near $78K, up roughly 23% on the week and the highest since May. $ETH is the liquidity beta here, $XAUT the pure hedge.
Does a bigger buyback signal a floor under risk - or a louder alarm?
#Write2Earn #Bitcoin #Macro #BondYields #CryptoNews
Not financial advice. DYOR.