Bond market rebuffs US treasury’s plan to buy back $6bn in government debt
Scott Bessent made announcement on Wednesday as bond yields rose to highest point since 2008 financial crisis US politics live – latest updates The US treasury moved to cut the cost of borrowing on Wednesday only to be swiftly rebuffed by the bond market. Scott Bessent, the treasury secretary, announced the US would buy back $6bn worth of government debt – treasuries – in an effort to alleviate a…
Treasury Secretary Scott Bessent announced plans on Wednesday to buy back $6bn in government debt to lower borrowing costs. However, the US bond market swiftly rejected the initiative, with 10-year treasuries yields reaching a three-year high. Inflation concerns, particularly from the Iran war, and rising treasury yields have spooked investors. The Federal Reserve faces the challenge of controlling inflation while avoiding displeasing President Trump.
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