🚨HUGE: The Treasury just bought back $12.5 BILLION of its own debt, and it could actually make inflation WORSE. The buyback was funded by issuing MORE short-term T-bills, which act as near-cash and effectively inject liquidity into the financial system. More liquidity while inflation remains above the Fed's 2% target works against the Fed's tightening efforts. Even doubled, the annual buyback adds just $120 BILLION, or 0.4% of total US debt. The Fed's Covid-era QE was $4.9 TRILLION. The likely real motive: mortgage rates were heading back toward 7% after falling toward 6% earlier this year, and Bessent needed to bring yields down. Rising yields are not just a US problem. Japan, France, Germany and the UK are all surging as governments compete for the same capital. One country buying its own debt won't fix a global bond selloff, per CME Group.(Coin Bureau)