Friday, August 21, 2026
What to watch
More trends →- 01
Whether the next long-dated buyback operation holds yields down for more than one session, and Japan's budget request as it reaches the long end of the Japanese government bond market.
- 02
The published scope of the promised Iran sanctions, specifically whether they name Chinese buyers of Iranian crude, and what Brent does on the announcement.
Executive summary
The week turned on long-dated government debt: the Treasury doubled its long-bond buybacks, and within a day the ten-year yield was back at 4.71%. Gold held above $4,500, bitcoin rose from below $63,000 to above $75,000, and Brent crude settled near $94 after the United Arab Emirates cut off all trade with Iran.