Treasury Doubles Long-End Buybacks; 30-Year Yields Drop 10 Basis Points, Gold Surges 3%

The U.S. Treasury will double per-operation long-end liquidity support buybacks to at least $4 billion from $2 billion, effective September 9, 2026, raising the quarterly cap from $30 billion to $38 billion. Thirty-year Treasury yields fell as much as 10 basis points from multi-year highs. Gold rose over 3%; the dollar weakened. The Treasury is buying back its own long-dated bonds, reducing supply and pushing yields lower.