US treasury doubles debt buyback to steady bond market amid inflation fears

Yields, at recent highs this week, dropped after treasury's vow to provide greater liquidity support' to bond market

The US treasury is doubling its buyback of government debt in an effort to balance out the bond market and counterbalance investor concern over high inflation.

The yield rate on 10-year, 20-year and 30-year treasury notes all hit 20-year highs this week, with the 30-year treasury yield rising to its highest rate since 2007. The rapid rise was concerning news for borrowers as major loans, including mortgages, are backed by treasuries.