Wall Street: US Treasury supports bond market, yields fall
The yield on 30-year US Treasury bonds reached temporarily the highest level in 20 years. The Treasury Department now wants to double buybacks. This provides relief.
The US Treasury Department plans to more than double its purchases of long-term government bonds. This move aims to improve market liquidity and functionality, following a recent surge in yields on Treasury bonds. The yield on 30-year US government bonds had risen to its highest level in nearly 20 years, but subsequently fell after the announcement.
The purchases are not a new quantitative easing program by the Fed, and are expected to have a positive short-term impact on the Wall Street, particularly on technology and growth stocks.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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