BlockBeats report: On August 25, U.S. Treasury Secretary Bessent provided no further signals regarding U.S. debt operations during the "Economic D-Day" press conference. Previously, after the 30-year U.S. Treasury yield surged to its highest level since 2007, Bessent unexpectedly announced an expansion of the long-term Treasury buyback program. Under the plan, from September 9 to November 4, the minimum bid amount per buyback will increase from $2 billion to $4 billion.
When asked if further buybacks would be expanded, Bessent responded: “We haven’t bought a single bond yet; the next operation won’t occur until September 9.” This statement marks a clear moderation from his earlier suggestion that buyback volumes might exceed the newly established lower limit.
Analysts noted that treasury repurchase operations are essentially a routine and predictable debt management tool, not an emergency measure to address market pressures. Previously, Bessent claimed to have "a full toolkit" to stabilize the bond market, sparking speculation that the Treasury might reduce long-term Treasury issuance. Regarding whether auction sizes for long-term bonds will be scaled back, Bessent stated that the Treasury will proceed "according to its regular issuance schedule" and indicated that specific details will be revealed in the next quarter’s quarterly refunding announcement.