U.S. Treasury Secretary Bessent played down market concern over a Treasury bond buyback operation that came in below expectations, saying conditions in the U.S. government bond market remain "very good." The Treasury had planned to repurchase up to $6 billion in bonds, but the actual amount totaled $5.19 billion. At the same time, the 2-year U.S. Treasury yield reached its highest level since 2024, while the 10-year yield climbed to a high last seen in 2023. The update centers on market reaction to the size of the buyback and Bessent’s assessment of overall market conditions.
ChainCatcher reported that U.S. Treasury Secretary Bessent downplayed market concern over a Treasury bond buyback operation that was smaller than expected, and said conditions in the U.S. Treasury market were "very good."
The Treasury had planned to repurchase up to $6 billion in bonds, but the actual buyback totaled only $5.19 billion.
At the same time, the 2-year U.S. Treasury yield hit its highest level since 2024, while the 10-year yield rose to a high seen in 2023.
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