The Treasury Department announced it would buy back $6 billion of longer-term debt, a move led by Secretary Scott Bessent. However, the action, intended to ease market stress, fell short of investor expectations, leaving them wanting more. Yields climbed to fresh multiyear highs as the market reacted to the limited scope of the buyback, signaling persistent concerns about supply and fiscal policy.

Investors had hoped for a larger, more aggressive intervention to stabilize the bond market, but the modest size did little to shift sentiment. The move highlights ongoing tensions between Treasury's liquidity management and market demands for stronger action.