Treasury Doubles Long-Term Debt Buyback Ceiling to $4 Billion Per Operation

The U.S. Treasury will double its long-term debt buyback maximum from $2 billion to at least $4 billion per operation starting September 9, 2026, Secretary Scott Bessent announced. The "at least" language signals a floor, not a ceiling. Buybacks remove duration from the market, easing supply pressure in the thinly traded 10- to 30-year sector where liquidity tends to fray under stress.