Bessent: Treasury Auctions to Proceed Amid Buyback Expansion

Treasury Secretary Scott Bessent confirmed that U.S. Treasury bond auctions will proceed as scheduled despite recent increases in buybacks of longer-term securities. The Treasury announced raising its buyback authority to at least $4 billion per operation to support liquidity in longer-dated bonds, including 10-, 20-, and 30-year notes, with the new structure effective from September 9 through November. This move aims to address rising yields and market liquidity concerns amid the record-breaking $40 trillion national debt and geopolitical uncertainties.

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