Treasury Doubles Long-Bond Buyback Operations to Relieve Pressure After 30-Year Yields Hit 19-Year Highs

The U.S. Department of the Treasury announced on Wednesday, August 19, that it will at least double the maximum size of liquidity support buyback operations for longer-dated nominal coupon securities, raising the cap from $2 billion to at least $4 billion per operation. The change applies to the 10-year-to-20-year and 20-year-to-30-year maturity sectors, takes effect …