Trump says he did not direct Bessent to intervene in bond market
Trump said Treasury Secretary Scott Bessent acted independently after the department doubled its bond buyback program, a move that briefly pushed yields lower before they rebounded.
- Earlier this week, Treasury Secretary Scott Bessent announced the government will double its typical $2 billion debt buyback to stabilize Treasury markets, though yields rebounded by yesterday.
- Long-Term Treasury yields recently spiked due to concerns over rising government debt and inflation remaining above the Fed's 2% target, prompting the Treasury to initiate this tactical buyback operation.
- Market-Based inflation expectations rose after the announcement, with the 10-year breakeven rate reaching 2.34% on Thursday, its highest level in more than two months.
- President Donald Trump denied directing the intervention on Friday, stating Bessent acted independently, while later suggesting he would use the military to handle troubled bond markets.
- Fed Chairman Kevin Warsh's keynote at the Jackson Hole symposium on Aug. 28 is now the focus for markets, where analysts expect him to address the balance between stabilizing yields and managing inflation expectations.
23 Articles
23 Articles
Exchange of the Day
President Trump took questions from reporters on the instability in the bond market: REPORTER: The yields have come back up since then. Have you talked to him about another type of intervention? Is that something he will be doing? TRUMP: We have many types of intervention. That’s one. The ultimate intervention is our military. And […]
Trump Threatens To Use The Military On The US Bond Market – What?
Trump responds to a reporter’s question with an answer that makes no sense. Decipher This Trump: No taxpayer money for the ballroom at all. Reporter: Did you direct Secretary Bessent on the bond market? Trump: No, not at all. He’s a very capable man. He wanted to do it. He’s very good at it. He...
Trump Threatens To Use The Military On The US Bond Market - What?
Trump responds to a reporter’s question with an answer that makes no sense. Decipher This Trump: No taxpayer money for the ballroom at all. Reporter: Did you direct Secretary Bessent on the bond market? Trump: No, not at all. He’s a very capable man. He wanted to do it. He’s very good at it. He has a good touch, a very good natural touch for the bonds and interest. He did that, yep. Reporter: The yields have come back up since then. Have you ta…
‘What Is He Talking About?’ CNN’s Abby Phillip at a Loss After Trump Claims He Might Use the Military Against Bond Market
CNN’s Abby Phillip spoke for almost everyone when she asked what President Donald Trump meant when he said he could use the U.S. military to quell volatility in the bond market. On Friday’s CNN NewsNight, Phillip teed up a clip of Trump hours earlier taking questions from reporters, one of whom asked about Treasury Secretary Scott Bessent’s decision to more than double the amount of U.S. bonds the department will buy back. The move comes as bond…
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