Menu
Theme
Sign In
Global bond markets stole the spotlight last week. The US 10-year yield closed at 4.74% and the 30-year at 5.27%, up 6bps and 2bps, respectively, for the week (chart). Treasury Secretary Scott Bessent surprised the markets on Wednesday by announcing that the US Treasury would double its long-term debt purchases to at least $4 billion per operation; that was the same day that the US national debt crossed above $40 trillion. He appeared on CNBC Thursday to defend the move and signaled that even larger buybacks are possible, but yields rebounded anyway, erasing most of Wednesday's relief rally.
The episode underscores how contested the yield move remains heading into Friday's Jackson Hole remarks from Fed Chair Kevin Warsh. We will also see earnings reports from Nvidia and Marvell this week. Regional business surveys and Thursday's jobless claims round out the week's domestic calendar. Here's more:
End of free preview
Ed's analysis as news breaks — often the same day. Plus the full QuickTakes archive.
Individual investor? Get Ed's QuickTakes for personal use at yardeniquicktakes.com →