Episode 1398: Monday - August 24, 2026

Today's Post - https://bahnsen.co/3U6PdsL

David Bahnsen opens from The Bahnsen Group’s new Santa Barbara (Montecito) office, briefly recaps markets (Dow up ~0.25%, S&P down ~0.25%, Nasdaq down ~0.75% led by semiconductors; staples and financials up, tech down), and argues recent 10-year yield trading has been relatively range-bound. He focuses on Treasury Secretary Scott Bessent’s announced 30-year Treasury buybacks ($2B now, potentially $4B in September) aimed at lowering long-end rates and term premium, likening it to an “Operation Twist” style intervention. Bahnsen says the move briefly lowered the 30-year yield about 10 bps but largely failed and is unlikely to work long term, criticizing government attempts to override market price discovery. He attributes higher long yields mainly to 30-year market illiquidity and new competing long-dated issuance from AI hyperscalers. He also covers U.S.-Canada tariff threats and retaliation, upcoming data/events (PCE, durable goods, Nvidia earnings, Warsh at Jackson Hole), WTI down ~2.5% near $85, and promotes his new book, “Profit from the Prophet,” releasing tomorrow.

00:00 Welcome From Montecito

01:06 Market Snapshot Today

01:38 Is Bond Volatility Overstated

02:58 Treasury Buyback Plan Explained

05:53 Did It Work Short Term

06:59 Can It Work Long Term

07:55 Why Long Yields Rose

12:05 Concerns About Intervention

13:52 Tariffs Canada Trade Spat

15:30 Week Ahead Data And Jackson Hole

16:27 Book Launch And Wrap Up

Links mentioned in this episode: DividendCafe.com

TheBahnsenGroup.com