Headlines:Will the US Treasury buyback be a game changer for markets?Why gold and Bitcoin surged together: What Treasury buybacks teach investors about dollar debasementChart of the day: Is the Nasdaq breakout retesting or failing?EUR/USD extends gains to fresh three-month highs after yesterday's breakIran foreign minister plays down US president Trump's economic threatWalmart shares fall on signal that consumers are pulling back on spendingGerman producer prices nudge up again in July as energy prices rise furtherMarkets:CAD leads, JPY lags on the dayEuropean equities mostly lower; S&P 500 futures down 0.2%US 10-year yields up 4.1 bps to 4.694%WTI crude up 3.4% to $88.70Gold down 1.1% to $4,469Bitcoin up 4.1% to $71,916Markets are still very much digesting the announcement by the US Treasury yesterday in doubling buyback operations at the long-end of the curve.This time, traders are showing some reservations to the initial reaction as we see yields bounce back and that is helping to let the dollar settle for a bit on the session.10-year Treasury yields are up 4 bps to 4.694% with 30-year yields up 4 bps as well to 5.233% on the day. In turn, that is helping to push the dollar off earlier lows and recover some poise. The greenback is still trading more mixed, with EUR/USD up 0.1% to 1.1683 but down from earlier highs of 1.1710. Meanwhile, USD/JPY stays underpinned and is up 0.3% to 158.65 on the day.As US-Iran tensions continue to persist, that is also keeping the broader market mood and outlook on edge for the most part. Oil prices are once again seen pushing higher, with WTI crude up 3.4% to $88.70. That is one spot that won't help to convince of the "Bessent put" as inflation expectations continue to ramp higher.In response, we're also seeing precious metals drop off with gold falling by 1.1% to $4,469 after a brief run above $4,500 earlier in the day.And in the equities space, things were more tentative earlier on but US futures are now posting modest losses - not helped by Walmart earnings, which hinted at further weakening in the US consumer after the retail sales data last week. S&P 500 futures are down 0.2% and tech shares are also looking wobbly again with Nasdaq futures down 0.4%. This article was written by Justin Low at investinglive.com.