Bond traders bite back as Bessent’s yield-lowering bet backfires
TL;DR Summary
Treasury Secretary Scott Bessent has pressed to lower long-term bond yields via buybacks, but traders have bet against him and yields are rising, suggesting his strategy is faltering and the Treasury may be running out of tools.
- Bessent dared the markets to ‘bet against’ him. Bond traders did — and appear to be winning. NBC News
- Is Scott Bessent winning the wrong battle in markets? Financial Times
- Katayama Calls Bessent’s ‘House’ Remark Scary in Translation Bloomberg.com
- Scott Bessent dared $32 trillion bond market with 'I am the house now' statement. It didn’t listen Fortune
- Bessent and the Bonds paulkrugman.substack.com
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