US Treasury to Buy Back Up to $6 Billion in Long-Dated Debt

The US Treasury will purchase up to $6 billion of 20- to 30-year government debt on Thursday, tripling the initially planned $2 billion under Secretary Scott Bessent’s expanded buyback program. The move aims to curb rising borrowing costs after the 30-year yield hit 5.38%, the highest since 2007. Critics, including the Institute of International Finance, warn buybacks offer only temporary relief and fail to address structural debt drivers.