US 10-year note auction yields 4.834%, below when-issued
The Treasury sold 10-year notes at 4.834%, a stop through of 1.5 bps, and saw a bid-to-cover of 2.71.
19 min ago2 min read
Treasury buyback comes in at up to $6 billion
Treasury confirmed a buyback of up to $6 billion, a figure that disappointed, while 30-year yields touched a session high of 5.29%.
09/09/2026 15:122 min read
Bessent has clearly taken it upon himself to act as god across FX and bond markets. A 'more than $4 billion' buyback was floated by the Treasury last month, and the confirmed figures are now out. The total is $6 billion, a number that appears to disappoint. It is also just "up to $6 billion", so there is a ceiling in place.
That means more T-bills and reduced long-dated Treasury supply overall, although the cut is smaller than feared. The 30-year yield is at its high for the session, gaining 3 basis points to 5.29%.
I have a bid in at 7%.
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