U.S. Bank pilots its USBDC stablecoin. The fifth-largest U.S. commercial bank completes a live cross-border payment using its proprietary dollar-backed token. The transfer moves between bank entities in North America and Europe on the Stellar blockchain.
Officials test minting, redemption, freezing and clawback features. The pilot links traditional banking systems with public blockchain rails. CEO Gunjan Kedia says it speeds up global cash management.
The bank explores uses in treasury operations, liquidity and collateral. It ranks among the first major lenders to run a bank-issued stablecoin live on a public network.
The U.S. Treasury just said it will buy back up to $6 billion of long-dated bonds this week.
Yields climbed anyway. The 10-year hit 4.845%, its highest since late 2023. The two-year also jumped. Markets clearly shrugged off the move.
Bitcoin slipped back near $78,500. Stocks fell. Oil stayed strong above $101.
Treasury Secretary Bessent wanted lower long-term rates. Instead, the bond market pushed yields higher and called the bluff. A buyer who always steps in can actually invite more selling.
Guys..... look at these movers today 👇 $IOST +107% 💀 that's not a pump thats a ROCKET $SC +35% quietly waking up $PHA +25% nobody was talkin about this one yesterday
The U.S. Treasury is stepping up its game. Tomorrow it’ll buy back as much as $6 billion in longer-dated debt — specifically 10- to 20-year Treasuries.
That’s three times the usual amount and the first operation under the bigger buyback program announced last month.
They’re targeting older, less liquid bonds to support market functioning and try to ease pressure on yields, which have climbed to multi-year highs.
The 10-year is already hovering near 4.85%. Markets weren’t completely sold on the size, but it’s still a meaningful move.
Keep an eye on how this plays out Thursday afternoon
Brent crude tops $100 a barrel. The international benchmark climbs past the key psychological level for the first time since late July.
Prices hit as high as $100.95 before settling near $100.66. WTI also advances strongly.
Escalating conflict in the Middle East drives the rally. Recent U.S. strikes on Iranian tankers and Houthi attacks on Saudi energy facilities raise supply concerns.
Traders price in a longer disruption to regional oil flows.
The move adds pressure on global inflation outlooks. Markets watch for further geopolitical developments.
Ripple lobbies to advance the CLARITY Act vote. Ripple Chief Legal Officer Stuart Alderoty meets with undecided and opposed senators. He urges them to speak with actual U.S. crypto holders before the September 15 procedural vote.
The company cites 67 million American crypto holders, 232,000 industry jobs, and $55 billion in economic activity.
The bill needs 60 votes to open formal debate. It would create a federal framework for digital assets and expand CFTC oversight of the spot market. Ethics concerns from some Democrats still cloud the path.