BlockBeats news: On September 8, U.S. Treasury Secretary Bentsen’s resolve to support the bond market is about to be tested. At 11:00 a.m. Eastern Time on Wednesday (11:00 p.m. Beijing Time), the U.S. Treasury will announce the maximum amount it plans to repurchase for U.S. Treasuries with maturities between 10 and 20 years. On September 10, the U.S. Treasury will also disclose the exact amount of Treasuries actually purchased under its buyback program, which began in May 2024.
Previously, the U.S. Treasury stated that, prior to November 4, it would repurchase at least $4 billion in long-term Treasuries each time from the market, up from the previous $2 billion. However, the Treasury retains the discretion to increase the repurchase size as needed. Market participants generally expect that Besent’s actions will ultimately exceed the previously announced repurchase targets.