Pre-Market Update: US Treasury Bond Buyback Sends Bitcoin to $70,000 and Pushes Yields Lower
TLDR
- Bitcoin surged over 10% to hit $70,000 for the first time since early June after the US Treasury intervened in the bond market
- Treasury Secretary Scott Bessent moved to lower long-dated bond yields, causing the 10-year yield to fall to 4.65% and the 30-year to 5.19%
- US stock futures traded mixed Thursday, with the Dow down 0.1%, S&P 500 flat, and Nasdaq 100 up 0.1%
- Walmart reported strong earnings but its stock fell on slowing US sales growth
- The US national debt crossed $40 trillion as Trump threatened “economic warfare” against Iran
The US Treasury made a surprise move this week, announcing it would at least double bond buybacks for longer-duration bonds. The move was designed to push long-term yields lower.
BREAKING: The US Treasury announces it will double the size long-term US government debt buybacks following the rapid surge in US Treasury yields.
Repurchases of $2 billion will now be increased to "at least" $4 billion, the US Treasury said.
The move is intended to provide…
- The Kobeissi Letter (@KobeissiLetter) August 19, 2026
… Continue reading the full article at the original source below.
This content is automatically aggregated. Full credit goes to the original publisher (coincentral.com).
