Druckenmiller urges letting bond yields breathe as Bessent expands US buybacks
TL;DR Summary
Stanley Druckenmiller criticizes Scott Bessent’s plan to push down long-term US yields with larger Treasury buybacks, arguing that the market should set prices and deficits must be reduced. Bessent has expanded buyback capacity and even considered using the General Account, as US debt nears $40tn and deficits are forecast around $2tn, highlighting a debate over how to discipline yields.
Topics:business#bond-yields#economy#fiscal-deficit#scott-bessent#stanley-druckenmiller#treasury-buybacks
- US Treasury’s Scott Bessent ‘will lose’ battle with bond markets, former mentor warns The Guardian
- Bessent could tap near $1 trillion Treasury General Account to fund bond buybacks, sources said CNBC
- What’s Behind the U.S. Treasury’s Latest Attempt to Lower Interest Rates The New York Times
- Druckenmiller, Bessent’s Early Mentor, Calls Bond Buys a Mistake Bloomberg.com
- The Treasury's attempts to get bond yields down amount to 'financial repression,' Citadel Securities says Business Insider
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