Macro & Policy/Currency & Rates
Why US Treasury Yields Keep Rising Despite Everything Bessent Has Tried
The US 30-year Treasury yield hit 5.216% at auction on August 13, 2026 — the highest borrowing cost in a quarter century — even as Treasury Secretary Scott Bessent has deployed nearly every tool available to him. The reason yields keep climbing despite his efforts is structural: the actual levers that move long-term rates sit with the Federal Reserve and Congress, not the Treasury Department, an..