U.S. Treasury Steps In as Long-Term Borrowing Costs Hit 19-Year High

On August 19, 2026, the Treasury doubled its purchases of long-term government bonds to at least $4 billion per operation, starting September 9. Thirty-year borrowing costs had hit their highest since 2007. After the news, those costs eased, stocks and gold rose, and the dollar fell about 0.8% to near 98.