The Treasury doubled its bond buybacks this week to bring long-term yields down. Instead, the market read the move as a signal of looser policy ahead and priced in more inflation, sending the 30-year Treasury to its highest level since 2007, the same week the Fed's own minutes showed three sitting officials voting to raise rates. What a Treasury Buyback Actually Does When the Treasury Department buys back its own bonds, it is not paying down the national debt. It is reshuffli
