$6 billion limit... US Treasury conducts long-term Treasury buyback

The U.S. Treasury conducted a buyback of long-dated government bonds on November 5 (Korean time), repurchasing up to $6 billion in face value of securities maturing between February 2037 and August 2046, covering the 10- to 20-year maturity bracket. The $6 billion figure is a ceiling rather than a final amount, with the actual purchase size to be determined by market participants' sell offers and the Treasury's price evaluation. The operation had already been listed on the Treasury's quarterly schedule released September 9, meaning the trade date was not newly set in response to the November 3 midterm elections despite a preliminary announcement that day. The buyback matters as a liquidity-support measure for the long end of the Treasury curve, and the next thing to watch is the final accepted amount and pricing once the operation settles.