Treasury Doubles Long-Bond Buybacks; 30-Year Yields Fall, Gold Rallies

The Treasury will double per-operation buybacks of long-dated bonds to at least $4 billion from $2 billion, starting September 9, 2026, lifting the quarterly cap from $30 billion to $38 billion. Thirty-year yields fell 10 basis points (0.10 percentage points). Gold rose over 3%; the dollar slipped. Fewer bonds in circulation mean lower yields — and cheaper long-term borrowing.