Required reading in the WSJ from investing sage Stan Druckenmiller:

The Treasury Department announced on Aug. 19 that it would double the size of its long-dated bond buybacks, from $2 billion to at least $4 billion per operation, aimed at the 10- to 30-year sector and running from Sept. 9 through Nov. 4. The announcement came after the 30-year yield touched a 19-year high. Yields fell within minutes. By the next afternoon they had round-tripped to levels above where they started. The market’s verdict was swift and correct: This wasn’t liquidity management, it was price management—and a mistake far larger than $4 billion suggests.

Read more at WSJ.com

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Futures are modestly higher on the latest effort to suppress oil prices.

There are still plenty of gaps to fill down below.

But, the slump in WTI has taken some of the pressure off of yields.