Gold Jumps, Curve Flattens On Report Treasury To Tap Trillion-Dollar TGA To Fund Bond Buybacks

Gold Jumps, Curve Flattens On Report Treasury To Tap Trillion-Dollar TGA To Fund Bond Buybacks Having seen yields rebound from their initial decline following the upping of Treasury (long-end) buybacks to 'at least $4BN' per operation (and increased its total planned operations), Treasury Secretary Scott Bessent jawboned late last week about his 'bigger toolkit' and 'asymmetric information' in an attempt to further strengthen the 'Treasury Put'. Unfortunately for him, the market (vigilant as ever), decided to test him with yields ending the week at the highs. So this morning, two senior Treasury officials...