U.S. Treasury Buys Back More of Its Own Long-Term Debt — Yields Drop, Gold Jumps

On August 19, 2026, the Treasury doubled its repurchases of 30-year bonds to $4 billion. When the government buys back its own debt, bond prices rise and yields — the interest those bonds pay — fall. The 30-year yield dropped to near 5.2%. The dollar weakened and gold rose 4% above $4,500. Secretary Bessent wants the 10-year yield below 4%; it stood at 4.75% on August 11.