US yields ease as Treasury weighs cash use for bond buybacks
What's next: Markets are watching Jackson Hole and fresh inflation data after the 30-year yield recently hit its highest since 2007.
US Treasury yields fell Monday after CNBC reported, citing two Treasury officials, that the department could tap its roughly $1 trillion General Account to help fund expanded government bond purchases. The 10-year yield slipped more than 3 basis points to 4.70%, while the 30-year yield dropped more than 4 basis points to 5.228% after touching its highest level since 2007 last week. The moves follow Treasury Secretary Scott Bessent’s extended debt buyback program, aimed at easing pressure on longer-dated bonds. The dollar had already been hovering near a three-month low as investors weighed debt worries, sticky inflation and the market impact of shifting borrowing toward shorter-term bills.