Treasury Buyback Slammed 30-Year Yields 10 bps Off 2007 Highs — Then the Rally Unraveled in 24 Hours

On August 18, 2026, the 30-year Treasury yield hit 5.337%, its highest since 2007. The next day the Treasury boosted debt buybacks, sending long yields down nearly 10 basis points. By August 20 yields resumed rising and stocks fell. The buyback created a temporary bid, not a regime shift — supply and oil-driven inflation pressure persist.