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Treasury boosts longer-dated bond buying to curb rising yields
The Treasury said it would double purchases of longer-dated bonds, helping pull yields lower and giving stocks some breathing room as U.S. debt surpassed $40 trillion.
CNBC World reports that the U.S. Treasury moved to rein in bond yields by increasing its purchases of longer-dated securities.
According to the report, the decision to double longer-dated bond buying on Wednesday pushed yields lower.
The outlet adds that the move also offered stocks some breathing room amid concerns as U.S. debt swelled past $40 trillion.
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