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Treasury yields surge after Bessent’s beefed-up buyback operation fails to calm market
MarketWatch • • general
Key Points:
- The Treasury market experienced a sharp sell-off, with a new auction of 30-year U.S. government debt and an enhanced buyback operation by Treasury Secretary Scott Bessent failing to stabilize the market.
- Rising oil prices and recent inflation data have increased expectations of a Federal Reserve interest-rate hike next week, adding pressure to Treasury yields.
- The 10-year Treasury yield surged 12 basis points to 4.96%, reaching its highest level in approximately three years and approaching the critical 5% mark.
