Treasury
announced a $12.5 billion redemption of shorter-maturity securities on
September 9, targeting 2026-2028 bonds, followed by up to $6 billion in
longer-term bonds maturing 2037-2046 on September 10.
Secretary Scott Bessent described the expanded program as support for liquidity in less-liquid bond segments without changing overall debt issuance.
Crypto observers called it bullish for risk assets like 'stealth QE,' but bond yields rose, with the 10-year hitting 4.851 percent—its highest in five years—showing market disappointment over the scale.