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The US Treasury Department said on Wednesday that it will buy back more of its longer-term bonds, in an effort to curb a sharp increase in borrowing costs, the Wall Street Journal reported.
US Treasury announced that it would at least double the maximum size of its liquidity-support buyback operations for longer-dated nominal securities. The current maximum size of $2 billion per operation will be at least $4 billion per operation.
The department disclosed that total US public debt had surpassed $40 trillion for the first time. It has now surged by a third in less than five years.
Market reaction
Gold price attracts some buyers following this headline. At the time of writing, XAU/USD is up 4.17% on the day at $4,515.
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