U.S. Treasury's Increased Buyback Program Little Help so Far for Bond Market
Dow Jones
Yesterday
0529 GMT - The U.S. Treasury's expanded $6 billion buyback program struggled to meaningfully support the long end, with yields continuing to push higher despite the larger operation, Societe Generale rates strategists say in a note. "Against a backdrop of persistent inflation concerns, geopolitical uncertainty, and a deteriorating fiscal outlook, markets remain biased toward higher rates," they say. On Friday, investors will focus on August's CPI data, a key input ahead of the Federal Reserve's policy meeting next week.
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