Markets
Thursday, 8/20, 12:52 AM
The dollar sinks to a three-month low as the Treasury's buybacks calm the bond market
- The dollar index fell 0.8% to 98.80, its weakest since late May, after the Treasury's expanded bond buybacks pulled the 30-year yield down from a 19-year high of 5.337% to about 5.19%.
- Asian currencies steadied overnight, but analysts warn the calm rests on a $4 billion tool aimed at a $32 trillion market.