Treasury bond buyback programme gathers pace

NEW YORK: The long-simmering idea that the United States government should stand ready to buy back treasury securities from investors to improve market functioning is moving closer to reality.

While the Treasury Department has carried out buybacks in the past, most recently between 2000 and 2002, and while its industry advisers since then have urged it to consider establishing a programme, steps taken in that direction last week were more than experts anticipated.