Bloomberg
What's Behind the Big Surge in US Government Bond Yields
Thursday, September 3, 2026
US Treasury bond yields reached their highest levels since 2008, with the 30-year Treasury touching 5% following Treasury Secretary Scott Bessent's announcement of an increased bond buyback program and Federal Reserve Chairman Kevin Warsh's speech at the Jackson Hole Economic Symposium. Stanford economics professor Darrell Duffie, who presented research on US Treasury market structure at Jackson Hole in 2023, discussed current bond market conditions and the Federal Reserve's balance sheet reduction strategy at the 2026 symposium.