New York Times: The bond market issued a swift rebuke on Wednesday to the Trump administration’s latest attempt to lower borrowing costs, as the 10-year Treasury yield rose to its highest level in roughly three years.
The Treasury Department said on Wednesday morning that it would repurchase up to $6 billion of its own long-dated debt, fulfilling a promise to at least double its regular debt buybacks as it seeks to tame borrowing costs that have drifted steadily higher in recent months…