diff --git a/.watchman b/.watchman
new file mode 100644
index 00000000000..0967ef424bc
--- /dev/null
+++ b/.watchman
@@ -0,0 +1 @@
+{}
diff --git a/test/dynamo/test_misc.py b/test/dynamo/test_misc.py
index 9c85949a9d0..0a110f7e869 100644
--- a/test/dynamo/test_misc.py
+++ b/test/dynamo/test_misc.py
@@ -217,6 +217,18 @@ class MiscTests(torch._dynamo.test_case.TestCase):
 
         torch._dynamo.testing.standard_test(self, inplace1, 2, expected_ops=3)
 
+    def test_inplace_desugaring(self):
+        def inplace_on_literals(y):
+            x0 = 1
+            x0 += y
+            x1 = 1
+            x1 -= y
+            return x0, x1
+
+        torch._dynamo.testing.standard_test(
+            self, inplace_on_literals, 1, expected_ops=2
+        )
+
     def test_unpack4(self):
         def unpack4(a, b):
             a = a[:5, :]
diff --git a/torch/_dynamo/variables/builtin.py b/torch/_dynamo/variables/builtin.py
index 5cf6a09c9d1..1c4b932d165 100644
--- a/torch/_dynamo/variables/builtin.py
+++ b/torch/_dynamo/variables/builtin.py
@@ -54,6 +54,23 @@ from .user_defined import UserDefinedVariable
 log = logging.getLogger(__name__)
 
 
+IN_PLACE_DESUGARING_MAP = {
+    operator.iadd: operator.add,
+    operator.isub: operator.sub,
+    operator.imul: operator.mul,
+    operator.ifloordiv: operator.floordiv,
+    operator.itruediv: operator.truediv,
+    operator.imod: operator.mod,
+    operator.imatmul: operator.imatmul,
+    operator.ilshift: operator.lshift,
+    operator.irshift: operator.rshift,
+    operator.ipow: operator.pow,
+    operator.iand: operator.and_,
+    operator.ior: operator.or_,
+    operator.ixor: operator.xor,
+}
+
+
 class BuiltinVariable(VariableTracker):
     @staticmethod
     @functools.lru_cache(None)
@@ -488,11 +505,17 @@ class BuiltinVariable(VariableTracker):
         ):
             try:
                 fn = self.fn
-                if self.fn is operator.iadd and isinstance(
+
+                if self.fn in IN_PLACE_DESUGARING_MAP and isinstance(
                     args[0], variables.ConstantVariable
                 ):
-                    # Work around weird bug in hf_T5
-                    fn, args = operator.add, [args[1], args[0]]
+                    # In-place operators like += usually mustate tensor
+                    # values, but in the edge case of immutable values they
+                    # re-bind the variable.
+                    #
+                    # The easiest way to keep the graph consistent in this
+                    # scenario is to de-sugar eagerly.
+                    fn, args = IN_PLACE_DESUGARING_MAP[self.fn], [args[0], args[1]]
 
                 if self.fn is operator.getitem and isinstance(args[1], SymNodeVariable):
                     # Standard indexing will force specialization due to