🟢 Value ETF (SPHD) is trading 6% up in pre-market on Treasury’s $4 billion bond-buyback expansion

SPHD is trading at $56.54 (+6.04%) after the Treasury announced at least doubling long-term bond-buyback operations to $4 billion, initially supporting rate-sensitive, high-dividend value stocks.

• The catalyst was partly offset by renewed Treasury-yield pressure, with the 30-year yield reaching approximately 5.25%–5.26% on August 21, 2026.
• U.S. equity futures were modestly higher, while August 21 flash PMIs remained the main scheduled data risk.