The Treasury Department announced it will buy back up to $6 billion in longer-dated U.S. debt this week as 10-year Treasury yields hit their highest level since 2023, exceeding 4.85%. The buyback, part of an increased operation announced by Treasury Secretary Scott Bessent, follows elevated yields driven by persistent inflation and geopolitical tensions, though market analysts argue the purchase size is insufficient relative to the $40 trillion national debt and projected deficits.