JPMorgan Team Sees Credibility Risk in Treasury’s Bond Buybacks

JPMorgan Chase & Co. strategists warned that markets may view the US Treasury’s surprise effort to curb long-term borrowing costs as lacking credibility, potentially pushing up term premium and yields over time. JPMorgan Chase & Co. strategists warned that markets may view the US Treasury’s surprise effort to curb long-term borrowing costs as lacking credibility, potentially pushing up term premium and yields over time.