{
  "id": 2135095,
  "title": "United States: Long-end yield risks contained – ING",
  "url": "https://urgent.news/2026/08/20/united-states-long-end-yield-risks-contained-ing",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-20T12:25:08.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/united-states-long-end-yield-risks-contained-ing-202608201225"
  },
  "original_language": "en",
  "account": "ING analyst Padhraic Garvey assesses the impact of the US Treasury’s decision to double buybacks in 10-30 year maturities on long-end US Treasuries. While the program is significant and could be expanded again, it primarily dampens rather than reverses upward pressure on long yields. Garvey acknowledges there is potential for higher 10-year yields, but believes resistance might be encountered above 5%. The Treasury's move to increase buybacks in longer durations signals concern over the recent sell-off in longer tenor Treasury securities. The program, launched in May 2024, aimed to boost liquidity, and the doubling of buybacks in 10-year to 30-year maturities was announced to reinforce this rationale. The US Treasury has set a limit on the upside for long-dated yields, with long yield pressure expected to remain unless buybacks are doubled again. UP-market pressure on long yields is the dominant factor markets must navigate, but it is being mitigated. Garvey forecasts the 10-year yield to fluctuate between 4.75% and 5% but expects it to stay above 4.5%. Should the 10-year yield surpass 5% (or pose a significant threat), the US Treasury is likely to actively resist or prevent such a move.",
  "summary": "ING’s Padhraic Garvey analyses how the US Treasury’s decision to double buybacks in 10-30 year maturities affects long-end US Treasuries. He stresses that while the programme is sizeable and could be expanded again, it mainly mutes, rather than reverses, upward pressure on long yields.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}