Treasury plans $6 billion bond buyback; 10-year yield reaches 4.85%

The purchase. Treasury announced September 9 that it would buy up to $6 billion of older bonds with 10–20 years remaining to maturity. The operation is scheduled for September 10. Reuters The purpose. These purchases give investors a regular buyer for older, less-easily-traded bonds. Treasury describes the program as liquidity support and says it is not intended to address acute market stress. Treasury FAQ Borrowing costs. The 10-year yield reached 4.85% on September 9, its highest since November 2023, according to NBC News. That rise preceded the scheduled purchase; it does not show the operation itself failed. NBC News