MarketPR
Longer-dated Treasury yields are climbing again as the market turns skeptical on the Treasury Department's debt repurchase program that Secretary Scott Bessent had championed.
Concerns over the buyback initiative continue to weigh on prices in long-duration government debt, and the rally the program had generated at the long end is fading from the tape.
The Treasury's repurchase program had produced a bid at the long end of the curve. Now the bid is softening and yields are pressing back up.
Per the market's current read, the concern itself is the driver: whether the program can sustain the level it temporarily held. Bessent had publicly backed the buyback as a mechanism for supporting longer-dated debt.
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