Long-Dated Yields Jump Again as Bessent’s Buyback Fails to Steady Markets

US 30-year Treasuries rebounded to levels seen before Treasury Secretary Scott Bessent’s August buyback move, with 30-year yields above 5.28%, 10-year around 4.8%, and 2-year near 4.4% as traders priced in roughly a 70% chance of a Fed rate hike this month. Global yields rose on inflation and large deficits, despite Bessent’s defense of the toolkit. While he downplays the selloff, analysts warn that a single policy tweak is unlikely to quell ongoing debt and inflation pressures.