Bessent Doubles Yellen’s Hocus-Pocus Treasury Buybacks, Swapping Old Cheap Debt at a Discount for New Expensive Debt
Hocus pocus works with the bond market only briefly. His last hocus-pocus, the big kahuna US-Japan joint intervention, fizzled in days and bond yields marched higher.
We haven't written up this one. Wolf Street has the full story — the link below goes straight to it.