The US Treasury on Wednesday said it would double the size of buybacks for 10- to 30-year government debt securities to at least $4 billion per operation, providing a temporary relief from a weeks-long rise in yields that had unsettled global investors, Reuters reported. The increase from the previously planned $2 billion buybacks will apply to securities in the 10-year to 20-year and 20-year to 30-year segments.

The change will be take effect from September 9 till November 4, the department said. The announcement followed a sharp bond selloff on Tuesday that pushed the 30-year Treasury yield to its highest level since 2007.

Investors were concerned about a possible escalation in the US-Israeli war with Iran and a worsening US fiscal outlook as total public debt approached $40 trillion. S.

Treasury bonds stayed put following an auction on Wednesday, despite the announcement to ease the pressure on selling. On Tuesday, the yields had increased despite a scheduled $2 billion Treasury buyback of 20-year and 30-year bonds.

34% before retreating. “This increase in buyback operation sizes reflects Treasury's desire to provide greater liquidity support in longer-dated nominal sectors where there is consistently strong sponsorship from market participants, as evidenced by the significant volume of high-quality offers Treasury routinely receives in longer-dated buyback operations,” the Treasury said in a statement.

“I think they fear the pain of 5% or higher yields on the long end, not only because it raises the interest rate costs for the government but also for the private sector,” Rene Albrecht, senior analyst at DZ Bank in Germany told Reuters. “It's only three months until the midterm elections.”

“They have had to grab into the toolkit to get a hand on the recent rise in yields,” Albrecht added. It marked the second time this month that US Treasury Secretary Scott Bessent had stepped in to counter market moves.

“The operation changes almost nothing in terms of the fundamentals, in particular the unchanged need to finance the tidal wave of hyperscaler debt in addition to very large government deficits. The increased size of the operations is modest relative to the flows in the Treasury market,” Evercore ISI said.

5 trillion in outstanding 20-year and 30-year bonds as of July 31. 2 trillion.

99 trillion on Monday and is set to cross the symbolic $40 trillion mark soon. Treasury revises purchase plansFor the past two years, the Treasury has regularly purchased older securities before their maturity dates to support liquidity in so-called off-the-run bills, notes and bonds.