Bessent Bid Fades as Yields Rally and Markets Slip
Treasury Secretary Scott Bessent says the Treasury could expand its bond buyback beyond the initial $4 billion, arguing the market lacks fundamentals and that liquidity in the 30-year is weak, but the initial 'Bessent Bid' faded as yields moved higher and stocks fell, with analysts warning the move may have little lasting impact and could raise risk premia, as the deficit nears a peak and debt tops $40 trillion.