Treasury's bond-market fix falls short — what's next?

Treasury officials have rolled out buybacks and other tools to calm a selloff in long-dated Treasurys, but long-term yields remain elevated and market skeptics say liquidity moves don’t tackle the underlying rise in the national debt. With deficits ballooning and the government needing to finance growing borrowing, more measures are likely, even as tensions between the Treasury and the Fed – including expectations set for Jackson Hole – shape how policy is priced into markets and influence borrowing costs across mortgages, cars, and other loans.