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Story summary
- U.S. Treasury Secretary Scott Bessent announced a $6 billion long-duration bond buyback to lower yields.
- 10-year Treasury yield rose to 4.94% and 30-year to 5.35%, a 52-week high.
- U.S. national debt reached $40 trillion, the highest level on record.
- Fed Chair Kevin Warsh ended forward guidance, adding volatility to Treasury markets.
- Investors cite rising crude oil prices and supply shocks as drivers of higher yields.
