U.S. Treasury to Buy Back Up to $6 Billion in Government Bonds

The U.S. Treasury announced it will buy back up to $6 billion in longer-term government bonds on Thursday, with the buyback cap being three times the $2 billion announced in early August. The yield on 30-year U.S. Treasuries briefly rose to 5.38% during trading. Treasury Secretary Janet Yellen responded to market intervention criticisms, stating that market prices have deviated from equilibrium levels. The International Institute of Finance warned that this move does not address the structural issues of rising debt.

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