Karishma Vanjani

Facing unrelenting losses in the bond market, Treasury Secretary Scott Bessent —America's self-proclaimed “top bond salesman”—stepped in last month to try and cushion the pain.

Today's the day that Secretary Scott Bessent clarifies how far his Treasury will go to appease the bond market—and expectations go as high $10 billion. The Treasury, on Aug. 19, unexp

Yields Rise to New Highs After $6 Billion Treasury Buyback Announcement

Bidders Pounce on 10-Year Notes as Auction Achieves Highest Yield Since 2007

Investors pounced on rising rates, buying 10-year Treasury notes at the highest yield achieved at an auction in 19 years.

The 10-year Treasury yield is meaningfully higher this morning, taking a cue from the relentless run-up in oil prices and the latest inflation data. The yield on a bond maturing in a decade is at 4.914%, the highest intraday level since October 31, 2023. Yields go higher when bond prices fall. The

For the past two years, the Treasury has quietly performed its buybacks without much ado. But as the clock ticks toward today's operation, it has become clear investors are tuned in. Since May 2024, the Treasury has been taking away older longer-duration bonds from investors. That has allowed inves

For all the alarm surrounding the bond market, investors appear hungry for the long-end debt. The Treasury auctioned $22 billion worth of 30-year debt at 1 p.m. Investor demand was strong as reflected by the yield of 5.308% offered by the government.It was lower than the pre-bidding deadline, a sig

A proxy for inflation expectations is holding steady as a rock. Over the next two years, inflation will average 2.57% annually, the bond market's 2-year breakeven rates indicate today. That nearly matches Thursday's level and is modestly lower than the 2.82% level seen a day before the U.S. att

Treasury Secretary Scott Bessent has said the buyback push was designed to soothe the headline-driven volatility.