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DAILY BRIEF

Dow plunges 700 points as surging Treasury yields, Walmart sales shock, 10s -6bp · desk brief, Thu 20 Aug 2026

Treasuries (close 2026-08-19): 2s 4.19% (+0.0bp), 10s 4.65% (-6.0bp), 30s 5.19% (-9.0bp).

Tape (close 2026-08-19): VIX 14.89, 2s10s +46bp.

Narrative: Rick Scott: Trump will have to resume full war with Iran

What mattered:

• Dow plunges 700 points as surging Treasury yields, Walmart sales shock Wall Street

• Scott Bessent Steadied the Bond Market — President Trump’s Iran Threat Wiped It Out in Less Than a Day

• US long-term bonds slide as Bessent intervention fails to soothe investors

• U.S. Treasuries rebound higher across the curve after liquidity support expansion

• RBI’s Hawkish Minutes Rattle Bonds, Put Rate Hikes in Play

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