Bessent Doubled Buybacks, Yields Went Higher: A Headache For Warsh At Jackson Hole (SP500)

Bessent Doubled Buybacks, Yields Went Higher: A Headache For Warsh At Jackson Hole (SP500)

Treasury Secretary Bessent now has two open requests that only the Federal Reserve can grant. Read why a variable claim on nominal cash flows looks better.

When Scott Bessent Was Schooled by the Bond Market

“The Treasury Department’s announcement of a bond buyback stemmed a selloff—but not for long.,” the Wall Street Journal reports. Financial Times: Bessent takes on bond vigilantes in $32 trillion Treasury market. Axios: Was the Treasury’s market intervention worth it?

Long-Term Treasury Yields Surge, Wipe Out Effect of Bessent’s Hocus-Pocus Treasury Buybacks in 2 Days. Bond Market Not to Be Played With

If bond buyers lose confidence, they’ll demand even higher yields. Bessent better watch out with his games.

Longer-dated Treasury yields rise as Bessent's bond buyback rally fizzles out

Concerns over the Treasury Department's debt repurchase program continue to weigh on markets.

30 - Year Treasury Yield Hits 5.3%, Highest Since 2007

Quick Summary: 30 – Year Treasury Yield Hits 5.3%, Highest Since 2007 The U.S. Treasury’s intervention doubled long-term bond buybacks, yet yields resumed climbing, highlighting market skepticism. Yields reached their highest in 20 years for a $67 billion bond sale, signaling increased investor demands. The 30-year Treasury yield hit 5.3%, the highest since 2007, affecting mortgages, loans, and government financing. The bond market is testing t…

Rand rally gives businesses more buying power

South Africa’s rand strengthened further on Friday, briefly breaking below the R16/$ level to around R15.99/$, its strongest level since before the Iran war. The rand gained as much as 0.8%, supported by a weaker US dollar and higher gold prices. It was also on track for a third consecutive weekly gain.  The latest move follows Wednesday’s sharp rally, when the rand strengthened from around R16.25 to below R16.08 after the US Treasury announced …