Treasury announces upscaled buyback operation for longer-term debt, sending yields lower

The Treasury Department on Wednesday said it will more than double the size of its government debt repurchases, sending yields sharply lower.With fixed income markets under pressure and yields surging to levels not seen in nearly 20 years, the announcement targets a sensitive part of the Treasury market.This is breakin

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

Sharp sell-off in recent weeks has sent borrowing costs soaring