Japan · U.S. Treasury · Scott Bessent · China · Crypto Briefing
US Treasury runs into growing competition as foreign bonds offer higher yields and debt tops $40 trillion
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The 30-year Treasury yield hit its highest level since 2007, prompting an emergency buyback intervention that may only delay a deeper reckoning for US government borrowing.
Key facts
- Treasury Secretary Scott Bessent’s department said it would increase buybacks of 10- to 30-year bonds from $2 billion per operation to at least $4 billion, effective September 9 and lasting two months
- The 30-year US Treasury yield surged to 5.34% in mid-August, a level not seen since 2007, forcing the Treasury Department into an unusual emergency response
- Doubling buybacks from $2 billion to $4 billion per operation sounds aggressive until you compare it to the scale of outstanding debt
- The last time the 30-year yield was in this territory, in 2007, the US debt-to-GDP ratio was roughly half of what it is today
Summary
Via encirclephotos.com. The 30-year US Treasury yield surged to 5.34% in mid-August, a level not seen since 2007, forcing the Treasury Department into an unusual emergency response. Treasury Secretary Scott Bessent’s department said it would increase buybacks of 10- to 30-year bonds from $2 billion per operation to at least $4 billion, effective September 9 and lasting two months. Net foreign purchases of US Treasuries fell to their lowest since January 2026, with June flows particularly anemic.