Market Update – The Long End Ambushed and Brutally Short Squeezed

Stocks were given a boost just before the open after the U.S. Department of the Treasury announced it will at least double the size of its liquidity-support buyback operations for longer-dated nominal securities beginning September 9. The 30-year note yield is down seven basis points to 4.21% as long-end shorts are squeezed. Secretary Bessent is…