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Treasury Yields Continue to Rise Even as Bessent Doubles Down on Bond Buybacks
The 2-year note rose 2 basis points as Brent crude moved above $100 and traders awaited key U.S. inflation data.
- The 2-year Treasury note yield rose to 4.413% shortly after 5:30 a.m. ET on Wednesday, marking a new high as inflation concerns mounted amid escalating Middle East tensions.
- Escalating conflict in the Middle East drove market uncertainty Wednesday after Tehran reported striking two American vessels and eight oil tankers in the Gulf. This retaliation followed American destruction of five Iranian crude oil tankers.
- Oil prices surged Wednesday, with international benchmark Brent crude topping $100 per barrel for the first time in recent months. West Texas Intermediate futures gained more than 2% to trade at around $95 a barrel.
- Investors are awaiting key economic data this week for clues on American economic resilience amid supply constraints. ADP employment data releases Wednesday, PPI figures Thursday, and inflation data Friday.
- "Rates and FX markets are facing an ever more complex environment," Marc Ostwald, chief economist at ADM Investor Services in London, said Wednesday, citing risks of "demand destruction" from high energy prices. Benchmark 10-year Treasury yields remained unchanged while longer-dated 20- and 30-year yields dipped marginally.
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Oil, bond yields and iPhone prices keep rising, despite Scott Bessent’s efforts. When do things break?
After markets taught US Treasury Secretary Scott Bessent a lesson about who really controls bond yields, Donald Trump unveiled the sort of electoral bribe that vigilantes will hate.
·Sydney, Australia
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On Wednesday (September 9), the U.S. Treasury Department announced that the scale of U.S. Treasury bond repurchase operations, which will begin on September 10, will be increased to a maximum of $6 billion, with future operations reaching at least $4 billion, aiming to maintain the normal operation of the bond market. However, the market has seen yields rise instead of fall, leading many market experts to believe that increasing repurchases is m…
·New York, United States
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Total News Sources11
Leaning Left2Leaning Right1Center1Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
C 25%
R 25%
Factuality
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