Whoa: On June 10, the U.S. Treasury had a $10 billion bond buyback, on a par with the biggest in its history—a record set just a week earlier. The buybacks are intended to lower outstanding debt and cut interest expenses, and to boost market liquidity. With a national debt of more than $34 trillion and borrowing costs that are rising, such steps could represent a change in fiscal game plan. Officials at the Treasury have emphasized the long-term sustainability, but experts say lasting effects on the debt trajectory will require continued buybacks or broader change. $BTC
