Treasury Buyback Fails to Hold 30-Year Yields: 5.247% After Brief Rally

The U.S. Treasury said on August 20, 2026 it will double long-dated bond buybacks to at least $4 billion per operation, effective September 9. 30-year yields fell nearly 10 basis points on the news, then rose 5.4 basis points to 5.247% the next session as selling resumed. Higher long-end yields raise borrowing costs across mortgages and corporate debt.