Bond Market Undoes Treasury’s Buyback Fix in 48 Hours
Bessent’s doubled long-end buybacks pulled the 10Y from 4.72% to 4.65% in a session. More than half the rally was gone by the next close.
treasury yields
Global 30Y Yields Surge: US 5.31%, UK 5.83%, Japan 4.13%
Long-dated sovereign yields hit multi-year highs across the US, UK, Germany, and Japan in mid-August 2026 as buyers demand more term premium.
Chip Stocks -5% as Bond Yields Bite: MU -7%, AMD -4%
Semiconductors led a tech rout Aug 18 as the 10-year yield sat near 4.72%. Micron -7%, AMD -4.3%, SOX -4.98% — while Apple and Microsoft actually rose.
US Borrows $432B in July; FY26 Deficit Already Tops FY25
July’s $432B deficit pushes FY26 borrowing past $1.8T in 10 months — more than all of FY25 — as tariff refunds bleed receipts and debt nears $40T.
Payrolls Shrink in July: -23,000 Jobs, Rate-Cut Bets Surge
US payrolls unexpectedly contracted by 23,000 in July vs consensus of +85,000. Unemployment eased to 4.1% as bonds rallied and September rate-cut odds jumped.
Bear Steepener Alert: 30-Year Yield Hits 5.17%, Curve Widens
The 30-year Treasury yield touched 5.17% on July 23, a multi-year high, and the curve steepened sharply after the July FOMC. Here is what is driving it.
Warsh’s Second FOMC: Bonds Brace as Inflation Runs Hot
Kevin Warsh’s second FOMC meeting begins today with the fed funds rate at 3.50-3.75% and PCE at 4.1%. Here is what bond investors are watching.
The Yield Curve: Shape, Inversion, and What It Predicts
How the U.S. Treasury yield curve works, why its shape matters, what inversion has and hasn’t predicted, and how to read today’s curve.
May PCE Hits 4.1%, Highest Since 2023; Hike Odds Jump to 68%
Headline PCE jumped to 4.1% YoY in May, core to 3.4%. September rate-hike odds surged to ~68% from 29% a week ago as Treasury yields wobbled.
Yield Curve Explained: Shapes, Inversion, Recession Signal
What the Treasury yield curve is, what each shape means, and why inversion has preceded every U.S. recession since the late 1960s.