Yields decline on CNBC report Treasury could use General Account to fund buybacks
Treasury yields fell Monday as investors await Federal Reserve Chair Kevin Warsh's keynote speech at Jackson Hole later this week.
TL;DR
- Treasury yields declined on Monday after a CNBC report suggested the Treasury Department could use its $1 trillion General Account for government bond purchases.
- The 10-year Treasury note yield fell to 4.704%, and the 30-year yield dropped to 5.234%.
- This report follows Treasury Secretary Scott Bessent's announcement of an extended debt buyback program.
- Market participants are awaiting Federal Reserve Chair Kevin Warsh's keynote address at the Jackson Hole Symposium this week.
- Concerns about sustained inflation and the U.S.'s $40 trillion debt are prominent ahead of the symposium.
- Upcoming economic data includes the July core PCE price index and the second quarter GDP estimate.