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BREAKING:
The Treasury isn't waiting for the Fed anymore.
Bond buybacks just doubled. $2 billion to $4 billion per operation.
Covering the 10-to-30-year sector. Starting September 9.
Here's why Bessent moved.
30-year yields just hit their highest level since 2007.
The bond market was throwing a tantrum. So Treasury stepped in directly.
Not with new money printing.
By buying back its own existing debt to force yields lower.
It worked within hours.
10-year yield dropped 6 basis points. 30-year dropped 9.
Bloomberg's own read: a clear sign of real concern from Washington.
This wasn't even the scheduled quarterly plan.
A surprise announcement, two weeks after the regular schedule already went out.
Here's what happened next.
Bitcoin ripped from the mid-$60,000s toward $80,000 within days.
Best weekly gain in years. 22% in five days.
Every previous time the government stepped in to force liquidity into the system.
Risk assets went vertical.
Watch what happens when the bigger operations actually begin.
BREAKING:
The Treasury isn't waiting for the Fed anymore.
Bond buybacks just doubled. $2 billion to $4 billion per operation.
Covering the 10-to-30-year sector. Starting September 9.
Here's why Bessent moved.
30-year yields just hit their highest level since 2007.
The bond market was throwing a tantrum. So Treasury stepped in directly.
Not with new money printing.
By buying back its own existing debt to force yields lower.
It worked within hours.
10-year yield dropped 6 basis points. 30-year dropped 9.
Bloomberg's own read: a clear sign of real concern from Washington.
This wasn't even the scheduled quarterly plan.
A surprise announcement, two weeks after the regular schedule already went out.
Here's what happened next.
Bitcoin ripped from the mid-$60,000s toward $80,000 within days.
Best weekly gain in years. 22% in five days.
Every previous time the government stepped in to force liquidity into the system.
Risk assets went vertical.
Watch what happens when the bigger operations actually begin.
