Trump says he did not direct Bessent to intervene in bond market
Trump said Scott Bessent acted on his own after a Treasury buyback announcement sent long-term yields higher, with the 10-year breakeven rising 6-7 basis points.
- 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.
17 Articles
17 Articles
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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…
When questioned, on Friday (21), about whether he had asked directly for the Treasury Secretary, Scott Bessent, to intervene in the interest market, US President Donald Trump said that Bessen "is a very capable man." "He wanted to do this. He is very good at it," he said. This week, Trump again publicly claimed high interest in the US and, on the same day, Bessen announced that he would increase buybacks of long bonds. The American Treasury clai…
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President Donald Trump's threat to use military intervention to handle the troubled bond markets is baffling his online critics.On Friday, a reporter asked Trump about increasing bond yields, which Treasury Secretary Scott Bessent has struggled to contain after a failed debt buyback intervention ear...
Trump says he did not direct Bessent to intervene in bond market
U.S. President Donald Trump said on Friday he did not direct Treasury Secretary Scott Bessent to intervene in the bond market this week and that the Treasury chief acted on his own authority based on his understanding of the issues.
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