Published Aug 20, 2026, 2:28 PM ET · Updated 3 months ago · 1 source
US Treasury yields are in a new bear market due to insufficient buybacks and high debt demand
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Original Report
Long-term US Treasury yields, specifically the 10-year and 30-year, have reached multi-decade highs, indicating a new bear market for Treasuries. The Treasury's response of doubling debt buybacks from $2 billion to $4 billion per operation is seen as a 'rounding error' in a $30-40 trillion market, failing to provide conviction and leading to continued yield increases.