The yield on the 10-year US Treasury note held around 4.64% on Wednesday after falling nearly 10 basis points in the previous session. Declining oil prices for a third consecutive session reduced near-term inflation concerns, while investors assessed the Treasury Department’s plan to at least double its debt buybacks. Investor Stanley Druckenmiller said the move undermines the Treasury market’s credibility and wastes an opportunity for meaningful debt reform. Markets were also awaiting the latest US PCE price index, the Federal Reserve’s preferred inflation measure, ahead of Fed Chair Kevin Warsh’s speech at the annual Jackson Hole symposium on Friday. Warsh is not expected to give clear guidance on the central bank’s September policy decision.