Treasury Doubles Bond Buybacks as Long-Term Yields Hit 2007 Highs

On August 19, 2026, the US Treasury doubled buybacks of longer-dated coupon securities to at least $4 billion per operation after long-term yields reached their highest since 2007. Yields then retreated; the dollar index fell 0.84% to 98.80. Secretary Bessent authorized the move as rising long-end borrowing costs pressure mortgages, corporate refinancing, and government debt service.