US 30-Year Bonds Erase Gains From Bessent’s Buyback Plan

US 30-Year Bonds have erased all previous gains following Treasury Secretary Scott Bessent’s announcement regarding a plan to increase buybacks of longer-dated debt. This market reversal pushed the 30-year yield back to levels recorded before the Treasury's disclosure. According to Bloomberg Intelligence, the Treasury rout has restarted only one day after the implementation of the beefed-up buyback strategy, effectively short-circuiting Bessent’s efforts to calm the markets and stabilize the current financial environment.