U.S. Treasury Secretary to detail plans to isolate Iran’s economy on Monday
Scott Bessent said he would hold a press conference Monday to 'talk about exactly what we’re going to do' and sought to ratchet up pressure on US allies to join the effort
US Treasury Secretary Scott Bessent will hold a press conference on Monday to discuss plans to isolate Iran's economy. He also sought to increase pressure on US allies to join the effort.
Bessent has been working to manage interest rates and government debt. Recently, he announced that the Treasury would double the size of a bond buyback program to $4 billion per operation, aiming to reduce the supply of 10-year to 30-year bonds and boost their prices.
According to Bessent, the bond repurchase program could potentially be larger than $4 billion, as he stated that the Treasury has a "big toolkit" at its disposal. He expressed his belief that current yields do not reflect the underlying fundamentals.
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- Why Treasury Secretary Bessent’s moves to calm the bond market haven’t worked so far apnews.com
- Bessent becomes most interventionist Treasury chief in decades fortune.com
- US bond selloff resumes despite Treasury intervention channelnewsasia.com
- Bitcoin above $70k for first time since early June after Bessent's intervention in bond markets thisismoney.co.uk
- Bessent's efforts in the Treasury market so far haven't worked. Here's what else he can try cnbc.com
- Instant View: US Treasury will double some bond buy backs finance.yahoo.com
