Treasury to More Than Double Long-Bond Buybacks; Yields Fall Sharply

On August 19, 2026, Treasury Secretary Scott Bessent announced the department will more than double purchases of 10-, 20-, and 30-year Treasury securities. Long-dated government bond yields fell sharply in response. The move follows a 10-year yield at 4.75% — an 18-month high — and 30-year yields at their highest since before the global financial crisis. Bessent had previously targeted a sub-4% 10-year yield.