US long-bond yields climb as Treasury buyback boost quickly fades
What's next: Investors are watching Jackson Hole and next week's PCE inflation report for clues on rates and long-term borrowing costs.
Longer-dated US Treasury yields rose again after an initial rally from the Treasury Department's expanded bond buybacks faded, underscoring persistent market unease over inflation and the country's growing debt load. The 30-year yield climbed above 5.27%, while the 10-year rose to about 4.73%, reversing much of Wednesday's relief. Treasury Secretary Scott Bessent had doubled long-end buybacks to at least $4 billion per operation and later left open the possibility of increasing them again to support liquidity. Investors and analysts said the move was too small to change the direction of a $32 trillion market and warned that inflation, fiscal deficits and heavy borrowing tied in part to AI infrastructure are still pushing yields higher.