The US Treasury unexpectedly announced an increase in the repurchase of longer-term treasury bonds. Previously, long-term bond yields had risen to multi-year highs. Just two weeks after announcing this quarter's repurchase plan, the US Treasury Department said on Wednesday that it will at least double the scale of liquidity support repurchase operations for 10-year to 30-year treasury bonds. US Treasury Secretary Scott Bessent mentioned this buyback plan last year, saying that if it is necessary to deal with the disorder in the US Treasury bond market, it will be one of the tools in the “large toolbox” that the Treasury can use. John Briggs, head of interest rate strategy at Natixis North America, said, “The key is timing. In my opinion, this is no accident, so what is more important is the signal it sends out. If the yield rises too high, the Treasury will try to deal with it, and now we know what levels can put pressure on it.”

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