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There is a hot debate over the wisdom of the Treasury Department's bond market intervention. In the meantime, market moves suggest Treasury's intended purpose — of reining in longer-term borrowing costs — is working.
The big picture: Long-term Treasury yields have stabilized since the government said a week ago that it would buy back longer-term securities by at least $4 billion at a time.
By the numbers: The 30-year Treasury yield reached a 19-year high of 5.31% on Aug. 17. Since then, those yields have come down, to 5.19% Wednesday morning.
