Every report the desk has filed, searchable by full text, topic, format, symbol and date range.
The Treasury secretary's comments come as a separate analysis argues yields could stay elevated for structural reasons beyond the Federal Reserve's control.
Treasury Secretary Bessent said rising yields reflect a global pattern rather than a US-specific problem, pushing back on alarm over borrowing costs.
Treasury Secretary Scott Bessent's debt-buyback announcement was meant to calm the bond market, but yields climbed anyway a day later.
U.S. Treasury yields resumed their climb on August 20, 2026, less than a day after Bessent unveiled a debt-buyback plan intended to steady the market.
US Treasury yields fell after the department offered liquidity support, sharpening investor attention on issuance strategy at the back end of the curve and the duration risk premium heading into the next refunding cycle.
Treasury yields dropped following a liquidity support offer from the Treasury, a technical intervention that reset the front end of the curve while strategists turned to the more consequential question of how the department manages back-end issuance. The move eases financing conditions across risk assets but leaves the structural duration supply overhang intact.
Increased official buying of long-dated Treasuries stabilises the curve's far reaches, but the fiscal arithmetic behind the intervention is reshaping mortgage, credit and equity duration assumptions
The U.S. Treasury has increased its purchases of long-dated securities, a technical intervention aimed at containing volatility at the far end of the curve. The move arrives alongside intensifying scrutiny of the federal debt trajectory and its pass-through into consumer borrowing costs, keeping duration risk at the centre of 2026 asset allocation debates.
Sovereign yields retreat from multi-decade highs, but Tokyo's shrinking policy toolkit leaves JGB market exposed as ECB's Rehn signals benign wage dynamics in the euro area
A synchronized global sovereign bond selloff paused as long-end yields backed off multi-decade highs, but the reprieve looks tactical rather than structural. Japan sits at the epicenter, with policymakers offering few credible answers as the rout threatens fiscal spending plans. In Europe, ECB Governing Council member Olli Rehn struck a dovish note, saying wage growth remains moderate with no evidence of second-round inflation effects — a divergence that keeps the transatlantic and trans-Pacific rate complex unstable.
Global duration finds tentative footing after a punishing stretch, yet risk assets remain unsettled as Reserve Bank of Australia's Hauser warns policy could tighten again if inflation risks crystallise.
The intensity of the global bond selloff has eased, but equity markets are struggling to convert stabilising yields into conviction. RBA Deputy Governor Hauser's explicit warning that rates could rise again if inflation risks materialise underscores that the developed-market easing narrative is no longer one-directional.
US debt supply moves to center stage Wednesday with 10y10y forwards above 2008 peaks, forcing equity investors to reprice the discount rate underpinning risk assets
A synchronized selloff across sovereign bond markets has pushed long-dated forward yields above 2008 highs, shifting focus to the cost of financing America's expanding debt pile. Strategists warn the equity market is increasingly assuming the disciplining function historically performed by the bond market.
Strategists say the 10-year yield's climb has yet to reach the pain threshold that historically triggers a broad equity de-rating, even as the dollar grinds higher and duration-sensitive dividend names come under scrutiny.
Equities continue to absorb an upward drift in long-end Treasury yields, with Strategas arguing the ascent must go considerably further before it forces a selloff. A mostly firmer but range-bound dollar and renewed focus on dividend sustainability across telecoms, REITs and payments underscore a market repricing duration rather than direction.
German 10-year benchmark yields spike to a 15-year peak as a synchronized sovereign selloff collides with a Middle East-driven oil bid, tightening financial conditions across European risk assets.
The German 10-year yield has jumped to its highest level since 2011 as a global bond rout broadens, with rising crude prices reinforcing inflation risk premia and pressuring European equity valuations.
Treasury yields hold in a tight range ahead of the FOMC record while a sharp escalation in North American trade friction and renewed pressure on Iran keep the geopolitical risk premium elevated.
Canada is bracing for 50% US tariffs covering roughly $20 billion in goods, a material escalation in North American trade friction with direct implications for cross-border industrials, autos and materials. Treasury yields held steady as investors deferred positioning until the release of Federal Reserve minutes, leaving duration effectively unhedged against a tariff-driven inflation impulse. European bourses were mixed to lower, with Poland's WIG30 down 1.26% and Turkey's BIST 100 off 0.28%, while Tehran's leadership weighed the risk of further economic pain and domestic unrest if Washington tightens sanctions pressure.
Wall Street's base case shifts to a no-move September barring a dramatic data surprise, with the greenback's slide moderating into North American hours and equities grinding to fresh highs before futures softened.
Goldman Sachs expects the Federal Reserve to stand pat at its September meeting absent an outsized data shock, anchoring rate expectations at a moment when the S&P 500 has already registered an all-time high. The dollar has extended losses but is stabilizing, and Monday futures slipped modestly — a pattern consistent with positioning fatigue rather than a change in macro regime.
Stock-index futures were little changed into the new week as investors weigh the policy path, with strategists now openly pricing leadership risk at the Federal Reserve.
U.S. equity futures were broadly flat following a quiet week, with positioning frozen ahead of clearer signals on the Fed's rate trajectory. Commentary around a potential Warsh-led Fed is injecting an institutional-credibility variable into rates markets alongside conventional data dependency.
A US 20-year bond sale arrives into the steepest curve of the cycle, while global long-end yields reach levels never before experienced during Bitcoin's entire existence — a structural stress test for duration-sensitive and speculative assets alike.
The Treasury's 20-year auction becomes the session's marquee risk event as term premium rebuilds and the curve steepens. Simultaneously, global bond yields have reached levels unseen since Bitcoin's 2009 inception, removing the zero-cost-of-capital backdrop that underpinned the entire digital asset era.
Prediction-market pricing for a September tightening has plunged, but analysts warn positioning is vulnerable to a hawkish repricing if broadening earnings strength pressures the inflation path
Implied odds of a September Federal Reserve rate hike have fallen to roughly 25%, a sharp dovish repricing that some strategists argue is complacent. With corporate earnings growth broadening beyond technology and financials positioned as beneficiaries, the risk of a hawkish surprise is being underpriced.
The Chicago Fed president says recent inflation prints show genuine improvement, a dovish tilt that lands as risk assets wobble and rate-sensitive sectors search for a policy anchor.
Chicago Fed President Austan Goolsbee said recent inflation data shows improvement, marking one of the more constructive assessments from a sitting policymaker in recent weeks and reviving expectations for a more accommodative path.
Strategists highlight the renewed sensitivity of long-end Treasury yields to Japanese currency and rate moves, while the New York Fed confirms no reserve management purchases in the month to mid-September.
Fixed income desks are refocusing on the yen–Treasury linkage as Japanese policy normalization alters the marginal buyer base for U.S. duration. The New York Fed separately disclosed it conducted no reserve management purchases through mid-September, leaving the liquidity backdrop tighter than some money-market participants had assumed.
An inflation print that removed tail risk failed to generate upside momentum, shifting the burden of proof onto the Federal Reserve's communication calendar and the next labour market read.
Bitcoin drifted toward $63,500 after a consensus inflation report neutralised the immediate policy risk premium without providing a catalyst for fresh buying. Traders have rotated attention to Jackson Hole, upcoming payrolls and the next CPI release as the decisive tests for risk appetite. Rates strategists simultaneously argue inflation is both central and peripheral to the fixed income narrative.
Fresh strategy notes favour low-duration allocations and warn that investment-grade ETFs still carry too much interest-rate sensitivity even as yields improve income profiles.
Portfolio commentary is converging on a short-duration tilt: LQD is flagged as offering better income but excessive rate risk, while low-duration additions are being made in credit-oriented trusts. The positioning shift reflects lingering uncertainty over the terminal policy rate and long-end term premium.
Headline CPI up 0.1% and core up 0.2% match consensus, pushing September tightening odds lower and reinforcing the disinflation narrative underpinning risk appetite
July inflation data printed exactly in line with economist estimates, with headline CPI rising 0.1% and core CPI 0.2%. The absence of an upside surprise further reduced already-thin market-implied odds of a Federal Reserve rate hike at the September meeting, extending a multi-month arc in which benign price data has steadily removed policy tail risk from equity and credit valuations.
July CPI moderation drives a synchronized bid across European sovereign debt, while Goldman Sachs pencils in a 0.23% core PCE print — reinforcing the disinflation narrative underpinning risk assets.
Softer-than-feared July US inflation data triggered a decline in euro zone bond yields as global rate expectations reset lower. Goldman Sachs projects core PCE at +0.23% month-on-month, consistent with a gradual return toward target and supportive of a policy easing path.