U.S. stocks rose on Wednesday as Treasury yields declined following an announcement from the Treasury Department of an increased buyback program for longer-term debt.
The Dow Jones Industrial Average gained 230 points, or 0.4%.
The S&P 500 and the Nasdaq Composite also rose by 0.4%.
Yields on the long end of the Treasury curve dropped sharply after the Treasury Department revealed plans to at least double its debt repurchase efforts.
The expanded buyback will focus on the 10- to 20-year and 20 to 30 year maturities, supporting the market for longer-term government bonds.
Source (CNBC)
