> 10-Year Yield Jumps near 4.85% as Treasury Plans $6 Billion Bond Buyback

Treasury yields are rising to new highs after investors expressed disappointment that the Treasury Department's expanded bond buyback program isn't larger.

The 10-year yield approached 4.85%, its highest level since 2023, after Treasury said it would buy back up to $6 billion in longer-term debt at its Thursday buyback operation. Some expected a larger buyback, which could have calmed yields down a bit more.

U.S. stock indexes are trending lower, with the Dow leading losses again. It would be the third straight decline for major U.S. benchmarks.

In energy, oil crossed the $100-a-barrel threshold this morning after a fresh round of strikes in the Middle East. The U.S. destroyed four Iranian tankers in the Gulf of Oman and one near Kharg Island yesterday, following attempts by Tehran to strike American warships.


I inherited a mess
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