0538 GMT - The U.S. Treasury's increase of liquidity buybacks reflects greater willingness to actively manage the supply-demand balance for U.S. Treasurys, Goldman Sachs's Friedrich Schaper says in a note. "However, absent some shift in underlying macro drivers of recent volatility, relief could prove relatively short-lived beyond the announcement effect," the analyst says. That said, U.S. Treasury yields aren't particularly misvalued relative to fundamentals, according to Goldman Sachs's assessment. "A change in [Federal Reserve] communication that curtails uncertainty around the policy path and reaction function could support some term premium compression, but a substantial rally likely requires support from a shift in fundamental factors," he says.