S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico Market
BondsOpinionTechnical Analysis
Treasury triples bond buybacks, but yields keep rising, TNOTE at its highest since November 2023
The U.S. Treasury has tripled the size of its next long-term bond buyback to $6 billion, as Treasury Secretary Scott Bessent seeks to curb rising borrowing costs.
- Despite the larger buyback, U.S. Treasury prices fell, pushing the 10-year yield to 4.85%, its highest level since 2023. Investors may have expected stronger intervention.
- Bessent stresses that the expanded buybacks are intended to improve market liquidity and limit sharp moves in yields, rather than alter the fundamental valuation of U.S. Treasuries.
- Interestingly, before the latest move, Bessent had indicated that the scale of buybacks would be “at least doubled.” In the end, it was tripled, yet yields rose even further following the announcement.
The U.S. 10-year Treasury futures contract has fallen to levels not seen since November 2023, with the RSI close to oversold territory. The downtrend has continued virtually uninterrupted since early March 2026.
Source: xStation5
