Long-Term Yields Fall on Treasury Move While Short-Term Holds Up
Dow Jones
Aug 20
1550 ET - Treasury yields settle mixed as the U.S. government plans to buy back more of its long-term debt. The Treasury department doubles to $4 billion the cap for buybacks of 10- to 30-year maturities. A 20-year bond auction shows signs of firm demand, although the 5.204% yield is the highest since 2023. Fed minutes reveal increasing concern about inflation, but that was before a soft July CPI. Markets mostly price a Fed hold next month. The 30-year yield sheds 0.090 percentage point to 5.194%, the deepest drop since October. The 10-year falls 0.054 p.p. to 4.651%. The two-year rises 0.004 p.p. to 4.178%.
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