Investors offered $46.39 billion in bonds to the US government during a recent attempt to stabilize the market through repurchases. The Treasury ultimately purchased the full $6 billion allowed in its October 1 liquidity operation for debt with 10 to 20 year maturities, with a single security issue accounting for $5 billion of the total amount. Mid-day reports had indicated the government was accepting only half of the offered bonds, though it eventually hit its maximum cap.

These interventions have become a near daily occurrence as the 10 year yield reached a 52 week high of 5.3%. This upward pressure on rates persisted despite Personal Consumption Expenditures data arriving better than expectations, a development that normally eases inflation fears. The scale of this operation counters recent debate over whether the treasury's buyback program has been too small to achieve its aims.