Treasury Doubles Long-Bond Buybacks; Long Yields Plunge

On August 19, 2026, Treasury Secretary Bessent said the department will more than double buybacks of 10-, 20-, and 30-year bonds. Long-dated yields fell sharply. The move came with the 10-year at 4.75% — an 18-month high — and 30-year yields near pre-crisis levels. Bessent had previously aimed for a sub-4% 10-year yield.