Wall Street closed higher as Treasury yields fell and healthcare stocks rallied. The U.S. Treasury Department announced an expansion in liquidity support through increased buybacks of longer-dated government debt. Beginning September 9, the cap on purchase size will rise from $2 billion to at least $4 billion per operation. This adjustment applies to nominal coupon securities within the 10-to-20-year and 20-to-30-year maturity ranges. These elevated levels will be maintained through November 4. The department explained that robust volumes of high-quality offers motivated the decision to enhance liquidity operations in those sectors. Following the announcement, Treasury yields declined, partially reversing the recent upward trend in long-term borrowing costs. The 10-year Treasury yield dropped to approximately 4.65%, while the 30-year yield fell to around 5.20%. On Tuesday, the 30-year yield had reached 5.337%, marking its highest point since 2007. Since bond prices and yields move inversely, the increased demand for government debt caused yields to fall, easing the pressure that had resulted from the recent selloff in long-term bonds.
A 6.1 magnitude quake struck off the coast of Indonesia’s North Sumatra province on Tuesday, causing tremors across various parts of Sumatra. The seismic event happened at 1:02:23 p.m. western Indonesian time, or 06:02:23 UTC. According to official data, the epicenter was located in the sea, 147 kilometers southeast of South Nias Regency. The quake had a depth of 29 kilometers, originating beneath waters west of Sumatra.
Business
Wall Street closed higher as Treasury yields fell and healthcare stocks rallied. The U.S. Treasury Department announced an expansion in liquidity support through increased buybacks of longer-dated government debt. Beginning September 9, the cap on purchase size will rise from $2 billion to at least $4 billion per operation. This adjustment applies to nominal coupon securities within the 10-to-20-year and 20-to-30-year maturity ranges. These elevated levels will be maintained through November 4. The department explained that robust volumes of high-quality offers motivated the decision to enhance liquidity operations in those sectors. Following the announcement, Treasury yields declined, partially reversing the recent upward trend in long-term borrowing costs. The 10-year Treasury yield dropped to approximately 4.65%, while the 30-year yield fell to around 5.20%. On Tuesday, the 30-year yield had reached 5.337%, marking its highest point since 2007. Since bond prices and yields move inversely, the increased demand for government debt caused yields to fall, easing the pressure that had resulted from the recent selloff in long-term bonds.
News
A 6.1 magnitude quake struck off the coast of Indonesia’s North Sumatra province on Tuesday, causing tremors across various parts of Sumatra. The seismic event happened at 1:02:23 p.m. western Indonesian time, or 06:02:23 UTC. According to official data, the epicenter was located in the sea, 147 kilometers southeast of South Nias Regency. The quake had a depth of 29 kilometers, originating beneath waters west of Sumatra.
Health
According to the World Health Organization, the ongoing Ebola outbreak in Congo could be contained within three months, provided that response efforts are adequately resourced. The latest official figures report 5,021 confirmed cases and 2,378 deaths as of Aug. 16. The epidemic now affects 55 health zones across six provinces, with the case fatality ratio reaching 47.4%. This makes it the deadliest Ebola outbreak in the country’s history and the second-largest Ebola epidemic worldwide.
