Treasury Doubles Long-Term Debt Buyback Cap to $4 Billion

The Treasury will double its long-term debt buyback maximum to at least $4 billion per operation starting September 9, 2026, Secretary Scott Bessent said. "At least" means a floor, not a ceiling. Buybacks pull duration — long-dated bonds — off the market, easing supply pressure in the thinly traded 10- to 30-year sector where liquidity frays under stress.