The broader cryptocurrency market is regaining strength, pointing toward a renewed bull run. The US Treasury Department announced on Wednesday that it will buy back more of its longer-term bonds, in an effort to curb a sharp increase in borrowing costs.
US Treasury doubles long-term bond buybacks
US Treasury announced that it would at least double the maximum size of its liquidity-support buyback operations for longer-dated nominal securities, as previously reported by FXStreet. The current maximum of $2 billion per operation will be increased to at least $4 billion per operation. This temporary workaround creates artificial demand for 10-year and 30-year bonds, lowering their yields.
