Government Steps Up Bond Repurchases; Experts Unimpressed

The government will buy back at least twice as many long-term bonds — up to $69 billion by November 5 — after rising interest rates made borrowing costlier. Rates eased on the news. Analysts called it a "drop in the bucket" next to $27 trillion in total government debt still growing from budget deficits. A November 4 refinancing update will reveal whether the plan holds up.