Why investors aren’t buying yet another attempt by the Treasury to calm the rattled bond market

Why investors aren’t buying yet another attempt by the Treasury to calm the rattled bond market Why investors aren’t buying yet another attempt by the Treasury to calm the rattled bond market Back-to-back weak auctions for Treasury notes show that government repurchases haven’t spurred demand for bonds Treasury Secretary Scott Bessent’s efforts to shore up the bond market have underwhelmed. , iStockphoto You can’t bail out the ocean just by using a bigger bucket. The Treasury Department tried anyway — for the second time in just two weeks. The bond market’s relentless selloff intensified on Thursday, even after the Treasury Department ran its second buyback operation this month to support market liquidity.

The yield on the 10-year Treasury note rose 5 basis points (0.05 percentage point) to 5.163%, its highest closing level since July 2007, according to Dow Jones Market Data. The 30-year Treasury rate climbed 5.9 basis points to 5.460%, its highest level in over 22 years. Bond prices and yields move in opposite directions.

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