US bond selloff resumes despite Treasury intervention

Traders work on the floor of the New York Stock Exchange during morning trading on Aug 18, 2026 in New York City. (Photo: AFP/Michael M. Santiago) 21 Aug 2026 05:41AM NEW YORK: Yields on longterm US Treasury bonds rose Thursday (Aug 20) despite a fresh pledge from US Treasury Secretary Scott Bessent to potentially intervene further in a bid to lower borrowing costs.All three major US indices fell decisively, following a down day on leading European bourses. Oil prices jumped more than two per cent as the US-Iran back-and-forth over the Strait of Hormuz remained stalemated.The US Treasury Department had announced on Wednesday plans to "at least double" its sovereign bond buybacks after the 30-year yield surged Tuesday to near two-decade highs.While the announcement had pushed rates lower on