Treasury Doubles Bond Buybacks, Yields Retreat from 2007 Highs

On August 19, 2026, the US Treasury doubled buybacks of longer-dated coupon securities to at least $4 billion per operation after long-term yields hit their highest levels since 2007. Yields pulled back from multi-year highs; the dollar index fell 0.84% to 98.80. Secretary Bessent authorized the move as rising long-end borrowing costs pressure mortgages, corporate refinancing, and government debt service.