PremiumWith the impact of Bessent's Wednesday morning treasury intervention which emerged in the form of a buyback boost, lasting less than 24 hours as 10Y yields blew out well above where they were yesterday at this time, and rising as high as 4.71% this morning...
JPMorgan Slams Bessent's Bond Market Intervention: Market Will View Treasury As "Lacking Credibility"
.. we fear the markets will view this action as lacking credibility, meaning this could contribute to higher term premium and yields over time should Treasury become more opportunistic in its approach to debt management ...
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