The U.S.
Treasury doubled its debt buybacks to support the bond market as long-term yields rose, but investment firm Creative Planning's Chief Market Strategist Charlie Bilello said the move did not reduce the nation’s overall debt.
Treasury Doubles Bond Buybacks On Wednesday, Treasury said it will at least double the maximum size of its buyback operations from $2 billion to $4 billion, targeting securities in the 10- to 20-year and 20- to 30-year maturity ranges.
The expanded operations are scheduled to begin Sept. 9 and continue through Nov. 4.
The move came as longer-term Treasury yields climbed to levels not seen in nearly two decades.
