Crypto shares climb after Treasury's doubled buybacks boost risk assets

Crypto shares climb after Treasury's doubled buybacks boost risk assets  Reuters

Tumultuous session puts further pressure on momentum trades that have been unsettled since AI-related stock sell-off

Federal Reserve Bank of San Francisco President Mary Daly suggested the US Treasury market signals that monetary policy is in a good place. She also sees no evidence that making preemptive cuts or hikes is an urgent problem to solve. She speaks on “Bloomberg Surveillance.” (Source: Bloomberg)

Bitcoin rises after the US Treasury doubles bond buybacks. Lower yields, a weaker dollar and liquidity hopes boost BTC, crypto and gold amid inflation fears.

The maximum size of buyback operations in the 10- to 30-year sector will rise from $2 billion to at least $4 billion starting Sept. 9

Inflation accelerated to 2.9 per cent in July following the increase to the energy price cap, according to figures from the Office for National Statistics.