Trump says he did not direct Treasury Secretary Bessent to intervene in bond market
MacroDigital Finance
U.S. President Donald Trump said on the 21st that he had not directed Treasury Secretary Scott Bessent to intervene in the bond market. Bessent said on the 20th that the Treasury could further expand the scale of its government bond buybacks, and on the 19th the Treasury announced it would double the size of each liquidity-support purchase operation for longer-dated nominal coupon securities from 2 billion dollars to at least 4 billion dollars. Trump told reporters he had given Bessent no instructions at all, making clear that Bessent had acted on his own judgment. Bessent is a former hedge fund manager with extensive experience in sovereign debt and currency markets. However, most of the decline in Treasury yields that followed Bessent's announcement had been reversed by the 21st.
