Treasury Buyback Plans Lift Stocks as 30-Year Yield Drops
US equities rebounded after the Treasury said it would at least double liquidity-support buybacks of longer-dated debt, helping push the 30-year yield down 10 basis points to 5.19%.
SPXUS30Y
Risk sentiment improved after the US Treasury announced plans to at least double liquidity-support buybacks of longer-dated Treasuries. The move was interpreted as an effort to ease borrowing costs after yields reached multi-decade highs.
The 30-year Treasury yield fell 10 basis points to 5.19%, while most S&P 500 stocks advanced during the session.
Equities rallied broadly as the buyback announcement helped offset recent pressure from elevated long-end yields.
Source: First Squawk