US Treasury yields climb as investors brace for Fed Chair Warsh’s Jackson Hole debut

The bond market is flashing warning signs that haven’t been this bright in nearly two decades. Thirty-year Treasury yields have surged past 5.2%, touching approximately 5.34%, a level the US hasn’t seen since 2007, right before the last time everything went sideways. The timing is notable. Newly appointed Federal Reserve Chairman Kevin Warsh is set to deliver his inaugural speech at the Jackson Hole Economic Policy Symposium on August 28, 2026, at 10 a.m. ET. Investors are positioning themselves ahead of what could be one of the most consequential Fed addresses in years. A debt ceiling of a different kind The yield surge isn’t happening in a vacuum. US national debt crossed the $40 trillion mark around August 19, 2026, a milestone that makes rising borrowing costs feel less like an academic concern and more like an arithmetic problem the government can’t ignore. Treasury Secretary Scott Bessent has already responded by doubling bond buybacks from $2 billion to at least $4 billion in August 2026. The move is essentially the government stepping in as a buyer of its own debt to help stabilize prices and keep yields from spiraling further. The federal funds rate has remained parked bet...