The U.S. Treasury Department is expected to announce Wednesday the size of its bond-buying program, an aggressive move aimed at keeping Treasury yields in check and ensuring markets function properly. Secretary Scott Bessent directly challenged currency traders, saying « I am the house now » as part of his strategy to support the Japanese yen. Japan remains the largest foreign holder of U.S. debt at $1.1 trillion, while domestic debt has surpassed $40 trillion. Analysts at Wrightson ICAP believe an amount of $5 to $6 billion now seems likely, double the normal buyback size. The benchmark 10-year yield has risen about 10 basis points since the buyback announcement was made.
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