US Treasury doubles Treasury buyback size ahead of midterm elections

1. 1The US Treasury doubled the size of its Treasury buybacks over the two months leading up to the midterm elections, stabilizing the Treasury market on Wednesday
2. 2The quarterly refunding plan released two weeks ago did not include expanded purchases of thinly traded long-dated debt, and the move comes after long-term yields surged to multi-decade highs
3. 3The buyback is known as an 'operation twist,' keeping total issuance unchanged while increasing the share of short-term funding

Source Reuters · View original ↗

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