Treasury Doubles Long-Bond Buybacks to $4 Billion, Sending 30-Year Yield Plunging and Gold Above $4,500

On August 19, 2026, the U.S. Treasury doubled buybacks of its longest-dated bonds to $4 billion. The 30-year yield fell nearly 10 basis points to 5.188% before bouncing to 5.208% (one basis point = 0.01 percentage point). The dollar tumbled and gold surged 4% to an 11-week high above $4,500. Secretary Bessent previously said he wants the 10-year yield below 4%; it stood at 4.75% on August 11.