Finance

The U.S. Department of the Treasury announced a major liquidity support measure, revealing it will at least double the size of its government debt buyback operations for longer-dated notes starting September 9. Following the announcement, the 30-year Treasury bond yield recorded a significant daily decline, paring back after hitting a 19-year high above 5.33% earlier in the week.

Minutes from the Federal Open Market Committee's July meeting highlighted deep disagreements among central bankers regarding future monetary policy. Although interest rates were held steady during the session, three dissenting voters pushed for a quarter-point hike, with many participants indicating further tightening may be necessary if inflation does not consistently cool toward the 2% target.

Shares of Moderna skyrocketed over 175% to easily lead the S&P 500 following a significant development regarding its cancer vaccine. The massive surge propelled the stock to its highest valuation since 2023 and heavily supported the broader healthcare sector, which marked a 3.5% single-day gain to outpace lagging sectors like technology and industrials.