Source: CNBC
“Bond yields edged higher on Thursday morning after pulling back sharply during the previous session following the Treasury Department’s move to dramatically ramp up government debt repurchases in a bid to shore up longer-dated debt. … The Treasury Department, led by Scott Bessent, said Wednesday it would double the size of its debt repurchases, mainly at the long-end of the yield curve. The move sent yields tumbling, with the 30-year yield plunging more than 10 basis points on the day and the 10-year note yield falling more than 6 basis points, reversing this week’s earlier advance. Treasury yields have been pushing steeply higher since June, touching levels not seen since before the 2008 Global Financial Crisis.” (08/20/26)