Bessent Dismisses Bond Market Concerns, Insists Market Remains Strong After Weak Buyback

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โดย Bloomberg·US·Read original
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US Treasury Secretary Scott Bessent has pushed back against concerns over the selloff in the US bond market, affirming that the government bond market remains in very good shape. He noted that demand at the last two bond auctions was still strong, and said the moves in the bond market were consistent with unusually high energy prices. The selloff came after the US Treasury announced its first buyback tranche of 6 billion dollars, which was lower than the market had expected. The buyback auction on Thursday closed at 5.19 billion dollars, marking the third time the Treasury chose not to buy back the full amount it had set. Normally the Treasury receives offers to sell around 20 billion dollars, but this time it received only about 10 billion dollars. The 2-year bond yield jumped to its highest level since 2024, while the 10-year yield hit its highest since 2023 and was last at 4.96%, nearing a test of the 5% level. The 30-year yield traded near its highest since 2007. Bessent also explained that measures departing from normal practice, including expanding the bond buyback program and intervening in the Japanese yen, were partly a response to Iran's efforts to create economic problems for the United States through bond yields or oil prices. He insisted the moves were not made because of the approaching election.

Impact on stocks 3

Others▲ · 3 stocks
％US Government Bond 2Y
US-2Y
▲ PositiveMonetaryrelevance

2-year yield jumped to its highest since 2024 amid the Treasury buyback shortfall and weak auction demand.

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