The U.S. Treasury set a maximum $6 billion purchase of securities with 10 to 20 years remaining to maturity for a long-dated debt buyback scheduled for Thursday, the 10th, tripling the previous $2 billion limit. The broader buyback program is scheduled to continue through November 4. The ceiling exceeded Treasury’s August guidance that purchases would rise to at least $4 billion but fell short of market expectations of roughly $10 billion to $12 billion, contributing to a selloff in government bonds. The benchmark 10-year Treasury yield reached 4.8528%, its highest level since November 2023, while the 30-year yield approached its highest level since the global financial crisis. Bond markets also faced renewed fiscal uncertainty after Trump said he would give every American $5,000 if Republicans win the midterm elections; he provided no financing details, and the proposal is considered unlikely to become law. Investors were preparing for Thursday’s $22 billion auction of bonds maturing in 2056 and consumer-price data due later in the week.