US 10-Year Yield Approaches 20-Month High

2026-08-21 16:27 By Andre Joaquim 1 min. read

The yield on the 10-year US Treasury note rose to 4.74% on Friday, testing the 20-month highs reached earlier in the week and more than erasing the decline triggered by the Treasury Department's announcement of a larger bond buyback.

The Treasury stated it would at least double its long-maturity buybacks to $4 billion next quarter.

This added to recent efforts of compressing yields after the joint intervention on the Japanese yen by selling euros and the request for the Fed to increase the limit on its FIMA facility.

Yields on the longer end of the curve had surged since July amid soaring debt issuance from AI companies and higher deficit spending by the federal government.

Long-term yields also rose after Fed Chairman Warsh signaled that a rate hike may not be his preferred tool to combat higher inflation, increasing the stakes of speeches in Jackson Hole.

Concerns of unanchored inflation were magnified by high energy prices during the US-Iran blockade of tankers in the Persian Gulf.



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US 10-Year Yield Approaches 20-Month High
The yield on the 10-year US Treasury note rose to 4.74% on Friday, testing the 20-month highs reached earlier in the week and more than erasing the decline triggered by the Treasury Department's announcement of a larger bond buyback. The Treasury stated it would at least double its long-maturity buybacks to $4 billion next quarter. This added to recent efforts of compressing yields after the joint intervention on the Japanese yen by selling euros and the request for the Fed to increase the limit on its FIMA facility. Yields on the longer end of the curve had surged since July amid soaring debt issuance from AI companies and higher deficit spending by the federal government. Long-term yields also rose after Fed Chairman Warsh signaled that a rate hike may not be his preferred tool to combat higher inflation, increasing the stakes of speeches in Jackson Hole. Concerns of unanchored inflation were magnified by high energy prices during the US-Iran blockade of tankers in the Persian Gulf.
2026-08-21
US Treasury Yields Hold Rebound
The 10-year US Treasury yield traded around 4.7% on Friday after rebounding sharply in the previous session amid concerns that the government’s plan to reduce borrowing costs may provide only a temporary solution. The 30-year yield also climbed to around 5.25%, nearly erasing Wednesday’s decline after the US Treasury Department announced larger debt buybacks. The moves came despite Treasury Secretary Scott Bessent saying that accelerated debt buybacks could exceed the announced $4 billion per issue and highlighting an upcoming fiscal plan, while adding that the US budget deficit has likely peaked under President Donald Trump. Longer-dated Treasury yields have surged since July amid increased debt issuance by AI companies and rising federal deficit spending. Meanwhile, higher oil prices as the US prepares sweeping new economic sanctions against Iran also added to inflation concerns.
2026-08-21
US Treasuries Erase Buyback Gains
Long-maturity Treasury yields rebounded on Thursday to erase the drop after the Treasury Department announced its larger bond and note buyback. The yield on the 10-year note rose to 4.7%, 5bps away from the 20-month high this week, and that on the 30-year bond rose to 5.25%. The Treasury stated it would at least double its long-maturity buybacks to $4 billion next quarter, adding to its efforts of compressing yields after the joint intervention on the Japanese yen by selling euros and the request for the Fed to increase the limit on its FIMA facility. Yields on the longer end of the curve had surged since July amid soaring debt issuance from AI companies and higher deficit spending by the federal government. Long-term yields also rose after Fed Chairman Warsh signaled that a rate hike may not be his preferred tool to combat higher inflation. Concerns of unanchored inflation were magnified by elevated energy prices during the US-Iran blockade of tankers in the Persian Gulf.
2026-08-20