Bonds steady after US Treasury comes to the rescue

SINGAPORE: Global bonds steadied on Thursday (Aug 20) after the US Treasury stepped in to stem a rout in its bond market, soothing investor nerves and sending the dollar lower while stocks climbed.The US Treasury announced overnight it will double buyback sizes for long-duration debt, as it sought to stanch an upward march in yields that sent the 30-year Treasury yield to its highest level since 2007 earlier this week.The 30-year yield was a touch lower at 5.1890 per cent in early Asia trade, having slid 9 basis points in the previous session, while the benchmark 10-year yield stood at 4.6466 per cent after a 5 bps fall on Wednesday."The timing of the announcement ... was taken as a signal that officials are alert to pressure in long-end borrowing costs," said Taylor Nugent, senior economi