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Bessent says longer-dated Treasury buyback could top $4 billion

The Treasury secretary said the longer-dated operation is meant to support market functioning by addressing surge-driven moves in yields, and he argued there is nothing “magic” about the size of the broader debt stock.

Reported · Written up by our desk · Government Bonds

CNBC reports that U.S. Treasury Secretary Scott Bessent said the government’s longer-dated Treasury buyback could be more than $4 billion.

According to CNBC, Bessent framed the effort as part of a plan to “make a market” in the longer-dated securities, where yields have risen recently.

Forexlive adds that Bessent linked the buyback messaging to a broader view that yield behavior does not necessarily reflect underlying fundamentals.

Forexlive also notes Bessent said there is nothing “magic” about a commonly cited $40 trillion debt figure.

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