The US Treasury announced on September 9 the doubling of its long-term bond buybacks, from 2 to 4 billion dollars per operation, in an attempt to contain the rise in long-term rates. This intervention produced only a temporary effect: the 10-year yield, initially falling from 4.68% to 4.63%, returned above its initial level the following day, at 4.71%. The 30-year yield stands around 5.3%, its highest since 2007, while US federal debt has just crossed the historic threshold of 40 trillion dollars. The 32 trillion dollar bond market remains largely resistant to steering attempts. Bitcoin gained 8.5% in 24 hours, trading around 75,551 dollars, while 1.71 billion dollars in short positions were liquidated.
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