The U.S. Treasury will purchase up to $6 billion of longer-term government bonds on Thursday, its second such operation in less than a month and the first since Treasury Secretary Bessent expanded the buyback program. The operation aims to contain borrowing costs that have risen persistently in recent weeks. The maximum amount is three times the $2 billion plan initially presented to investors in early August. The targeted 20-year to 30-year Treasuries continued to decline after the announcement, with the 30-year yield reaching 5.38% intraday, close to the approximately 5.40% peak earlier this month and its highest level since 2007. Bessent has defended the larger buyback against criticism that it amounts to market intervention, while the Institute of International Finance warned that secondary-market purchases may provide temporary relief but cannot address the structural forces driving debt growth.