Treasury intervention sparks rate relief... And Moderna’s cancer moonshot 8/19/26

Yields and the dollar moving sharply lower after the U.S. Treasury pledged to step up debt buybacks. The traders debate whether the move just gave stocks the all-clear. Then, Mizuho’s Jared Holz reacts to the huge moves higher in Moderna and Merck, after the pair’s personalized cancer vaccine succeeded in a pivotal trial. Plus, new signs OpenAI is falling behind Anthropic, Target delivers a…