US Treasury triples $6B long-term buybacks as 10Y yield hits 4.85%

The US Treasury increased planned long-term bond buybacks to 6 billion dollars. Despite this, yields rose. The 10-year Treasury yield moved above 4.85 percent, up 15 basis points from pre-announcement levels, reaching the highest level since November 2023.

Key points:
- Buybacks: tripled to 6 billion dollars for long-term bonds.
- Yield reaction: 10-year yield above 4.85 percent, plus 15 basis points from the announcement.
- Trend: the 10-year yield has risen by nearly 100 basis points since the onset of the Iran conflict, according to the source.
- Projection: if the conflict persists and current momentum continues, the 10-year yield could exceed 5.00 percent next week.
- Impact: higher yields increase borrowing costs for consumers, homebuyers, and corporate borrowers.

Implications for risk assets:
- Rising yields and geopolitical risk typically pressure equities and crypto due to tighter financial conditions and stronger dollar dynamics.