Finance

The U.S. Treasury Department announced it will boost weekly long-term bond repurchases to alleviate pressure on fixed-income markets. The intervention caused the 30-year Treasury yield to log its sharpest single-day decline in months after previously climbing to its highest level since 2007. The government plans to fund the expanded buyback operation by issuing more short-term bills.

The price of Bitcoin rallied over five percent to push past the $68,000 threshold, breaking out of a multi-week trading range. The digital asset market responded positively to a surprise regulatory proposal from the SEC establishing exemptions for token-based capital raises. Sentiment was further bolstered by an official meeting between prominent cryptocurrency executives and the White House.

The Federal Reserve released the minutes from its July policy meeting, revealing that central bankers are heavily split on how to address stubborn inflationary pressures. Multiple officials indicated that a resumption of interest rate hikes could become necessary if consumer prices fail to cool. Despite the hawkish warnings, equities largely brushed off the update during the session.