- Long-dated US Treasuries remain under pressure as investors await Federal Reserve chairman Kevin Warsh's Jackson Hole speech for signals on the response to persistent inflation and fiscal concerns.
- The 30-year Treasury yield reached its highest level since 2007 at one point in recent weeks, underscoring the severity of the long-bond selloff.
- The Treasury Department announced plans to at least double buybacks of longer-dated securities, but the move delivered only temporary relief.
Quotes
“Bond investors will zero in on Kevin Warsh’s Jackson Hole speech this week, with a further selloff in long-dated Treasuries at stake as markets look for clues on the Federal Reserve chairman’s response to persistent inflation and fiscal concerns.”