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Treasury doubles long-term buybacks to $4 billion Sept. 9

8/25/2026

Summary

Story summary

Treasury Secretary Scott Bessent announced the Treasury will double long-term buyback size to at least $4 billion per operation starting Sept. 9.
The buybacks will target older, less-liquid “off-the-run” securities to improve market functioning.
After the announcement, the 30-year Treasury yield fell 10 basis points to 5.187% before climbing to 5.247% the next day.
Citadel Securities called the Treasury’s yield-suppression tactics “financial repression” and warned they could trigger bond vigilantes.

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Story summary

Treasury Secretary Scott Bessent announced the Treasury will double long-term buyback size to at least $4 billion per operation starting Sept. 9.
The buybacks will target older, less-liquid “off-the-run” securities to improve market functioning.
After the announcement, the 30-year Treasury yield fell 10 basis points to 5.187% before climbing to 5.247% the next day.
Citadel Securities called the Treasury’s yield-suppression tactics “financial repression” and warned they could trigger bond vigilantes.