On 10.09.2026 the US Treasury will announce the size of a new long‑term Treasury buyback. Market participants expect an amount above $4 billion, while Morgan Stanley allows that the operation could reach $10 billion.

Program objectives and timing

The stated purpose of the operation is to support liquidity in the government bond market and to limit further increases in yields. Officials plan to target longer‑dated Treasuries, focusing on maturities beyond 20 years, with details to be published on the announcement date.

Current yield dynamics

Thirty‑year US Treasury yields recently rose to 5.337%, marking the highest level since 2007. Market participants view a buyback as a tool to reduce the net supply of long‑dated bonds and to ease upward pressure on long‑term yields.

Market impact estimates

Analysts estimate that a $10 billion operation would materially affect the availability of long‑dated issuance: net supply of securities with maturities over 20 years could decline by about 55%. The scale of the purchase will determine the magnitude of any liquidity improvement.

Implications for risk assets

Lower long‑term yields and improved liquidity typically increase the relative appeal of riskier assets. Market observers note that assets such as equities and Bitcoin could react positively if the operation meaningfully reduces long‑dated yields and restores depth to the Treasury market.