Bond yields head higher again, giving back almost all gains since Treasury Department intervention

Bond yields head higher again, giving back almost all gains since Treasury Department intervention Claire Boston · Senior Reporter Fri, August 21, 2026 at 12:59 PM EDT 2 min read ^TYX Stocks shrugged it off, but bond yields moved higher for a second straight day on Friday, the latest sign that the US Treasury's intervention efforts have been a bust. The 30-year Treasury yield was up around 2 basis points to 5.27% at midday, inching back toward the 5.3% level that spooked markets earlier this week, while the 10-year yield was also nearly 3 basis points higher, over 4.73%. On Wednesday, the Treasury said it would "at least double" the amount of 10-year, 20-year, and 30-year Treasury bonds it buys back. A day later, Treasury Secretary Scott Bessent signaled he could expand the purchases further. The operation is set to begin on Sept. 9 and remain effective through Nov. 4. Read more:  How soaring Treasury yields could impact your finances Bond market watchers have been skeptical that the Treasury's plan to lower yields by boosting long-dated bond buying would work. Multiple factors outside of the Treasury's control, including inflation fears, Federal Reserve communication changes, and a boom in corporate debt issuance, have contributed to higher yields. "We believe these measures will struggle to offset either declining Fed credibility or rising rate expectations," BNP strategists led by Guneet Dhingra wrote in a note this week. The intervention complicates the task facing F…