In short, this was a stellar auction, which helped pare some of the earlier blowout in yields following today's buyback announcement, with the 10-year note last yielding 4.837%, up 3.26bp on the session but off its pre-auction highs.

US bond yields rose Wednesday to their highest levels in almost three years after the Treasury Department said it would buy back up to $6 billion of government bonds, putting a…

The 10-year yield climbed to 4.841%, its highest since November 2023, as Wall Street had anticipated a larger buyback operation