The US Treasury has moved to support the long end of the government bond market by doubling the size of planned buybacks of longer-dated debt, seeking to ease liquidity pressures after a sharp selloff pushed the 30-year Treasury yield to its highest level since 2007, Reuters reported.
Treasury will increase buybacks of 10- to 30-year Treasury securities to at least $4 billion per operation, from the previously planned $2 billion. The larger purchases will apply to the 10- to 20-year and 20- to 30-year sectors and will run from September 9 through November 4.
