Dollar Takes Hit as Bond Buybacks Fuel Rising Yields

The U.S. dollar is experiencing a decline as traders become increasingly concerned about the rising debt market and the Treasury's decision to boost bond buybacks by $6 billion.

This move, made by Bessent, aims to put pressure on yields, but so far it has had an opposite effect, with yields rising amid the rally in oil markets.

The yield of 10-year Treasuries is approaching 4.85%, and the yield of 30-year Treasuries has tested the psychologically significant 5.30% level.