Stocks snapped their three-day losing streak Wednesday after the Treasury Department stepped in to stabilize the bond market. A big rally in healthcare stocks also helped support the broader market, though upside was contained as several mega-cap tech stocks struggled.
The Treasury Department this morning said it will "at least double" the size of its buybacks for government bonds, from $2 billion to a minimum of $4 billion. The increase will begin September 9 and run through November 4, and "reflects Treasury's desire to provide greater liquidity support in longer-dated nominal sectors," according to a press release.
