Supply Indigestion May Have Played Little Role in Higher U.S. Treasury Yields -- Market Talk

0520 GMT - Goldman Sachs strategists see little evidence that supply indigestion or impaired market function were key drivers of the move in long-end U.S. Treasury yields to multicycle highs, they say in a note. "Removing additional long-end supply can alter the supply/demand balance, but buybacks do not address the fundamental drivers and macro risks that have been the primary factors behind higher long-end yields globally," they write. This week's decline in U.S. Treasury yields has largely tracked lower energy prices, reinforcing the idea that more benign macro conditions can sustain lower yields across the curve, the strategists say. (emese.bartha@wsj.com)

(END) Dow Jones Newswires

August 26, 2026 01:20 ET (05:20 GMT)