Bessent Treasury buyback steadies yields after selloff; US debt tops $40 trillion

August 20, 2026 at 09:32 AM2 min

This digest was compiled by AI from multiple sources — links to the originals are below.

U.S. Treasury Secretary Scott Bessent doubled buybacks of 10- to 30-year debt to at least $4 billion per operation, steadying Treasury yields after this week's selloff. The intervention follows the August 1 joint currency market action with Japan to stem the yen's slide. Total U.S. debt has topped $40 trillion for the first time.

Key Facts

The U.S. Treasury announced it will double buyback sizes for 10- to 30-year Treasury debt securities to at least $4 billion per operation.
Total U.S. debt has topped $40 trillion for the first time.
The buyback announcement marked the second time this month that Treasury Secretary Scott Bessent intervened, after joining Japan in an August 1 currency market intervention to stem the yen's slide.
Australian employment unexpectedly fell in July and the jobless rate hit its highest point since late 2021.
Sweden's Riksbank is seen keeping its policy rate unchanged at 1.75% later on Thursday.

Treasury Buyback and Debt Levels

The U.S. Treasury announced on Wednesday it will double buyback sizes for 10- to 30-year debt securities to at least $4 billion per operation. U.S. Treasury yields were steady in Asia while Japanese government bond yields fell after the announcement. The move marked the second time this month that Treasury Secretary Scott Bessent has intervened, following an August 1 joint currency market intervention with Japan to stem the yen's slide. Total U.S. debt has topped $40 trillion for the first time, and investors around the world are demanding greater compensation to absorb developed economies' borrowing needs.

Global Labor and Central Bank Data

Australian employment unexpectedly fell in July, and the jobless rate hit its highest point since late 2021. Markets are pricing in little chance of a rate hike from the Reserve Bank of Australia next month, while a move by the end of the year is viewed as a coin toss. Sweden's Riksbank is seen keeping its policy rate unchanged at 1.75% on Thursday, helped by mild headline inflation from a largely fossil-fuel-free energy system. France will reopen 3-year, 5-year, 6-year, 8-year, 17-year and 21-year government debt auctions on Thursday.