Bessent Says Treasury Buybacks Could Exceed $4 Billion Per Issue
#CNBCS Key Takeaways:
Buybacks above $4B per issue
Signaling on yield fundamentals
Short-lived market impact
Summary:
U.S.🇺🇸 Treasury Secretary Scott Bessent said increased buybacks of Treasury securities announced this week could exceed $4 billion per issue, speaking on CNBC.
He described the move partly as signaling a belief that yields do not reflect underlying fundamentals, noting "we have a big toolkit."
The comments followed the Treasury's statement that it would at least double buybacks for longer-dated securities.
The market impact proved short-lived, with 30-year bonds erasing gains, highlighting the limits of the intervention.
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