Long-Term Yields Drop, Short-Term Rise as Washington Steps In
Dow Jones
Aug 20
1400 ET - The Treasury yields curve flattens as longer-term rates decline on government intervention while shorter maturities hold up. The Treasury Department says it will double to $4 billion from $2 billion the cap for long-term bonds buyback. A 20-year bond auction clears at the highest yield since October 2023, at 5.204% but it was in line with market pricing, indicating stable demand. That compares to a 5.257% rate before the buyback announcement. The 30-year falls to 5.212% from 5.266% before the news and the 10-year slips to 4.670% from 4.706%. Shorter-term Treasurys rise. The two-year reaches 4.201%, up from a morning low of 4.152%.
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