[U.S. Treasury Secretary: Treasury Buybacks Aim to Calm Market 'Frenzy'] BlockBeats News, September 9, U.S. Treasury Secretary Besent stated that last month's expansion of the U.S. Treasury buyback program was intended to calm the 'frenzy' forming in the bond market and to push market prices back to equilibrium. Besent noted that he cannot alter the equilibrium price of the market but hopes to reduce excessive speculation. He remarked that if investors are truly concerned about the creditworthiness of U.S. debt, they should sell U.S. Treasuries and buy German bonds, but the current market behavior does not reflect such concerns. Besent denied that the Treasury's buyback of government bonds is equivalent to the Federal Reserve's quantitative easing, describing the measure as more akin to the Fed's past 'Operation Twist.' The expansion of the buyback program comes against the backdrop of the 30-year U.S. Treasury yield rising to its highest level since 2007.