Treasury Department increases maximum buyback to $6B in effort to lower bond yields

Treasury bond hit a three-year high on Wednesday, after the Treasury Department unveiled plans to triple how much government debt it can buy back. The 10-year bond yield was up more than 2 basis points to more than 4.83 percent, after peaking at more than 4.85 percent earlier in... The Treasury Department announced Wednesday it will triple the maximum amount of U.S.

government debt it can buy back, as part of its effort to tamp down surging bond yields. The Treasury Department will increase its buyback limit from $2 billion to $6 billion per operation, according to its updated buyback operations schedule.