The U.S. Treasury doubled its 10- to 30-year bond buyback operations on August 19, adding at least $14 billion in liquidity support through November 4. This announcement triggered a $3.5 billion short squeeze across crypto derivatives, pushing Bitcoin up roughly 25% to above $77,000 within hours. The 30-year Treasury yield, which had hit 5.34% (its highest since 2007), initially fell to 5.184% before climbing back to 5.24% by August 20 as the bond market reassessed the actual impact of the measure. The move came the same day total U.S. debt outstanding crossed $40 trillion, amid a global bond selloff tied to inflation concerns, the escalating U.S.-Iran conflict, and mounting worries over the U.S. fiscal trajectory.
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