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Treasury to buy back $6 billion of longer term debt as yields rise

The Treasury Department said it plans to repurchase $6 billion in longer term debt even as yields climbed to fresh multiyear highs.

Reported · Written up by our desk · Government Bonds

Yields rose to fresh multiyear highs after the U.S. Treasury Department said it would conduct a debt buyback, purchasing $6 billion of longer term notes.

According to The Wall Street Journal Markets, the buyback program is part of Treasury’s ongoing issuance management and comes as investors digest higher yield levels across the curve.

The move targets the longer end of the market, an area that can influence borrowing costs for a range of fixed income products tied to Treasury yields.

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