US 10-year yields climb 4.1 bps to 4.694% after Treasury buyback announcement sparks mixed trader reactions.
US 10-year Treasury yields rose 4.1 bps to 4.694% as the dollar regained ground following initial volatility tied to the US Treasury’s decision to double buyback operations at the long end of the curve. The move reversed earlier declines, with 30-year yields also up 4 bps to 5.233%.
Markets had reacted sharply to the Treasury’s announcement yesterday, but traders showed reservations today, leading to a partial recovery in yields. The dollar index traded mixed, with EUR/USD slipping from a three-month high of 1.1710 to 1.1683, while USD/JPY rose 0.3% to 158.65.
Commodities saw mixed moves, with WTI crude up 3.4% to $88.70, gold down 1.1% to $4,469, and Bitcoin rising 4.1% to $71,916 M. European equities were mostly lower, and S&P 500 futures declined 0.2% amid cautious sentiment.