US Treasury's increased buybacks aim to lower long-term interest rates and support liquidity

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The US Treasury has significantly increased the size of its buybacks on longer-dated securities, doubling and then tripling them, with the explicit goal of supporting liquidity and forcing long-term interest rates lower. This intervention is a direct response to a substantial selloff that drove 30-year yields to 2007 highs and 10-year yields to 4.852%, which indicates a lack of demand for US government debt due to an escalating debt situation.