US Treasury announces $6bn debt buyback as 30-year yield hits 5.2%

Treasury Secretary Scott Bessent announced a $6bn government debt buyback on Wednesday to counter a bond market sell-off, with the 30-year yield reaching about 5.2%, the highest since the 2008 financial crisis. The move is a direct intervention to alleviate market stress driven by rising inflation and uncertainty from the war in Iran. The effectiveness of the buyback remains uncertain given its relatively small size against the scale of the sell-off.