US treasury to buy back $6bn in government debt to alleviate bond market

Even after Scott Bessent announced the operation would target $6bn worth of government bonds, yields on Wednesday continued to rise. Even after Scott Bessent announced the operation would target $6bn worth of government bonds, yields on Wednesday continued to rise. US economy Bond market rebuffs US treasury’s plan to buy back $6bn in government debt Scott Bessent made announcement on Wednesday as bond yields rose to highest point since 2008 financial crisis

Prefer the Guardian on Google The US treasury moved to cut the cost of borrowing on Wednesday only to be swiftly rebuffed by the bond market.

Scott Bessent, the treasury secretary, announced the US would buy back $6bn worth of government debt – treasuries – in an effort to alleviate a selloff in the US bond market that has put pressure on interest rates.