Published Aug 22, 2026, 9:10 AM ET · Updated 3 months ago · 1 source

Treasury cannot override fundamental market forces on bond yields

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Original Report

While the Treasury can have a temporary effect on the bond market, it cannot override the fundamental forces of persistent inflation, massive fiscal stimulus overhang, supply chain issues, and tariffs; the global bond market, not the Fed or Treasury, ultimately determines long-term bond yields.