The US Treasury will raise the limit for a single long-term Treasury buyback from $2 billion to at least $4 billion between Sept. 9 and Nov. 4, financing the purchases with short-term debt rather than money printing. Markets have viewed the measure as resembling Operation Twist 2, a liquidity-management approach that shifts the maturity profile of government debt. Although the Treasury emphasized that the policy is neither quantitative easing (QE) nor yield-curve control (YCC), the move has been interpreted as a signal of concern over rising financing costs as long-term yields reach nearly 20-year highs and the fiscal deficit remains elevated. Bitcoin surged past $78,000 and gained 23% for the week, while gold strengthened and the dollar weakened. Short covering intensified the market volatility.