The US Treasury Department tripled the initial size of its next buyback of longer-dated government debt, announcing it will purchase up to $6 billion of outstanding securities maturing in the 10- to 20-year sector. This marks the first operation under an expanded buybacks program led by Secretary Scott Bessent, aimed at addressing rising borrowing costs. Despite the increased scale, the announcement was met with initial disappointment by investors who had expected a more aggressive response to market pressures.

The move reflects the Treasury’s effort to stabilize demand for long-term Treasuries amid volatile interest rate conditions. The buyback targets securities set to mature between 2036 and 2046, signaling a focus on the longer end of the yield curve. Market participants remain cautious, interpreting the size as insufficient given recent volatility in government debt markets.

The program underscores Bessent’s commitment to using buyback tools to manage fiscal financing conditions. The Treasury emphasized the operation is part of a broader strategy to ensure orderly market functioning. The announcement came amid heightened scrutiny of US fiscal policy and debt sustainability concerns.