Debt-buyback plan lifts 10-year yield to 2023 highs

U.S. Treasury's debt-buyback plan lifted yields after the announcement, with the 10-year note up 2 basis points to 4.824%—its highest since November 1, 2023—while the 30-year rose to about 5.28% and the 2-year to 4.417%. The Treasury said it would buy back $6 billion of longer-dated debt, a size some traders expected could be larger. Oil prices climbed above $100 a barrel for Brent and above $96 for WTI as markets weighed the move, and Treasuries briefly sold off before rebounding after a strong 10-year auction.