Nexo (@Nexo): Treasury announced larger bond buybacks on August 19, and the 10-year yield dipped to 4.65%.
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Treasury announced larger bond buybacks on August 19, and the 10-year yield dipped to 4.65%. Within two days it was back above where it started, and it kept climbing through the Fed's September hike to a 24-year high this week. Solid auction demand has since eased it back toward 5.2%. Buybacks help steady trading, and buyers decide the price of long-term money.