Treasuries Gain as Oil Drop Eases Pressure on Inflation, Bessent

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world Scott Bessent outside the White House on Aug. Photographer: Yuri Gripas/Abaca/Bloomberg Treasuries gained as a decline in crude-oil prices eased inflation concerns and pressure on Treasury Secretary Scott Bessent , who has been trying to halt a months-long selloff that pushed the longest-dated yields to the highest in almost two decades. Yields fell by three to four basis points across the curve as oil dropped amid optimism about de-escalation in the Middle East. Yields on 30-year bonds have fallen about 9 basis points to 5.19% since Bessent announced plans last week to at least double Treasury buybacks in a bid to drag down long-term rates.

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