What was most specific about today?
Clients were served NQ QQQ short, and weren't afraid of gold premarket pullback
"Implications of Treasury’s Duration Intervention"
In a clear attempt to push long-term yields lower, an hour before the opening bell the Treasury announced at least doubling of its long-dated securities buyback to $4bn or higher for a limited amount of time.
This made major indices and precious metals surge instantly – duration operation smacking of yield curve control – just how far can those billions go (remember the quip „billion here and billion there, and pretty soon you talk real money“.
Did the surge in bond prices last throughout yesterday? Did the move inspire confidence in the auction three hours before the closing bell? Did precious metals lose any luster? Did Asia buy that intervention, did it soothe the ailing yen, or will BoJ be selling some more of its stash in support of the ailing currency?
So, what‘s the impact and shelf life of the Treasury intervention, with respect to key assets, levels and upcoming session prospects?
(full article has two charts)
August 20, 2026 102
