US Treasury Secretary Says Bond Market 'Very Healthy' Amid $5.19 Billion Buyback

US Treasury Secretary Scott Bessent said the bond market is still in 'very good condition' despite 10-year Treasury yields reaching their highest level since 2023, according to a report by Walter Bloomberg on X. Bessent explained that the first buyback amount of $519 million fell short of the maximum limit of $6 billion because long-term bond holders were passive sellers.

The Treasury had previously raised the per-auction limit for long-term bond buybacks from $2 billion to a minimum of $4 billion, with market expectations placing the first purchase at $5-6 billion.