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What signal does U.S. Treasury Secretary Becent's sudden "rescue" signal signal for the market? During this sensitive macroeconomic period, Becent's rescue seems like such a "coincidence." Just now, the U.S. Treasury officially announced that starting September 9, 2026, it will expand the scale of single bond purchases, increasing from the original $2 billion to even $4 billion. This policy covers 10-, 20-, and 30-year Treasuries. Simply put, the Treasury is increasing the scale of single bond purchases, adjusting the market supply of long-term medium- and long-term bonds and suppressing yields. After the news was announced, the US dollar weakened, long-term bond yields weakened, gold strengthened, and risk markets, especially high-beta asset yields, rose. This is considered an "event positive," and whether it can turn into policy positive remains to be watched. 1. Short-term increase in bond purchases is a way to release marginal liquidity for risk markets. Although different from conventional QE, it benefits risk sub-assets. However, this is only a single event boost, considering the huge scale of U.S. Treasury bonds. Raising a single repurchase from 2 billion to 4 billion is still just a drop in the bucket. The key issue here is whether the Treasury Department considers the 5.3% 30-year Treasury yield a sensitive red line, and that is the greatest significance of this matter. If the 30-year long-term bond yield continues to trigger this rule after reaching 5.3%, it will shift from an event-driven positive to a policy benefit, which is the most direct positive for the financial market. 3. If the government expands long-term bond buybacks + reduces long-term bond issuance + increases Bills financing in the future, it can create medium- to long-term liquidity benefits. So the 30-year long-term bond will be observed going forward