Trump says he did not direct Bessent to intervene in bond market
Trump said Scott Bessent acted on his own after Treasury doubled a routine bond buyback that briefly pushed yields lower.
- Earlier this week, Treasury Secretary Scott Bessent announced the government will double its typical $2 billion debt buyback to stabilize Treasury markets, though yields rebounded by yesterday.
- Long-Term Treasury yields recently spiked due to concerns over rising government debt and inflation remaining above the Fed's 2% target, prompting the Treasury to initiate this tactical buyback operation.
- Market-Based inflation expectations rose after the announcement, with the 10-year breakeven rate reaching 2.34% on Thursday, its highest level in more than two months.
- President Donald Trump denied directing the intervention on Friday, stating Bessent acted independently, while later suggesting he would use the military to handle troubled bond markets.
- Fed Chairman Kevin Warsh's keynote at the Jackson Hole symposium on Aug. 28 is now the focus for markets, where analysts expect him to address the balance between stabilizing yields and managing inflation expectations.
27 Articles
27 Articles
Trump Floats Using Military Against Bond Traders
Yahoo News reports: Trump suggested Friday he could use the military to stage an “intervention” on bond markets in a confusing response to a reporter asking about Treasury Secretary Scott Bessent’s efforts to bring down soaring yields. Taking questions on the tarmac before boarding Air Force One on Friday afternoon, Trump was asked by a reporter whether he had directed Bessent to intervene and whether the move was his idea. “No,” the president r…
Trump Threatens To Use The Military On The US Bond Market – What?
Trump responds to a reporter’s question with an answer that makes no sense. Decipher This Trump: No taxpayer money for the ballroom at all. Reporter: Did you direct Secretary Bessent on the bond market? Trump: No, not at all. He’s a very capable man. He wanted to do it. He’s very good at it. He...
Trump Threatens To Use The Military On The US Bond Market - What?
Trump responds to a reporter’s question with an answer that makes no sense. Decipher This Trump: No taxpayer money for the ballroom at all. Reporter: Did you direct Secretary Bessent on the bond market? Trump: No, not at all. He’s a very capable man. He wanted to do it. He’s very good at it. He has a good touch, a very good natural touch for the bonds and interest. He did that, yep. Reporter: The yields have come back up since then. Have you ta…
Trump Threatens To Use The Military On The US Bond Market - What? » Sons of Liberty Media
Trump responds to a reporter’s question with an answer that makes no sense. Decipher This Trump: No taxpayer money for the ballroom at all. Reporter: Did you direct Secretary Bessent on the bond market? Trump: No, not at all. He’s a very capable man. He wanted to do it. He’s very good at it. He …
Exchange of the Day
President Trump took questions from reporters on the instability in the bond market: REPORTER: The yields have come back up since then. Have you talked to him about another type of intervention? Is that something he will be doing? TRUMP: We have many types of intervention. That’s one. The ultimate intervention is our military. And […]
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