US Treasury Doubles Long-Dated Bond Buybacks to Curb Yield Spike

The Treasury is treating a symptom, not the cause: buybacks can absorb duration when yields spike, but they do not change the deficit or the pipeline of new supply that analysts flag as the real driver. The cross-asset reaction — bonds, equities and Bitcoin moving together — suggests this is being read as a liquidity signal rather than a fiscal fix. For crypto and RWA markets, the relevant question is whether Bitcoin's correlation to duration-sensitive macro trades strengthens if buybacks become a recurring tool. Whether the 30-year settles below its highs, and whether buybacks are extended past November, is the open question.