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Story summary
- U.S. Treasury Secretary Scott Bessent unveiled a plan to buy 10-year Treasuries to curb rising interest costs, August 19.
- Federal interest expenses rose 14% to $963 billion in the first ten months of FY 2026.
- Two-year yields rose to 4.18% and 10-year yields to 4.69%, up 6% and 7.3% respectively.
- Bessent will offset purchases by selling newly issued short-term bonds at lower rates to cut borrowing costs.
