U.S. Treasury Secretary Scott Bessent, in a move befitting the most economically interventionist U.S. administration in half a century, announced his intention Wednesday to intervene to artificially cap runaway yields on U.S. government debt.
The move, which had a tiny positive impact that lasted less than an entire day, is a sign of the Trump administration’s rising panic over rising yields on its long-term debt. Yields on 10-year and 30-year Treasury notes remain at about 20-year highs. That is an indicator that buyers need serious incentives to dip their toes into the increasingly toxic waters of U.S. government debt.
U.S. Treasury Secretary Scott Bessent, in a move befitting the most economically interventionist U.S. administration in half a century, announced his intention Wednesday to intervene to artificially cap runaway yields on U.S. government debt.
The move, which had a tiny positive impact that lasted less than an entire day, is a sign of the Trump administration’s rising panic over rising yields on its long-term debt. Yields on 10-year and 30-year Treasury notes remain at about 20-year highs. That is an indicator that buyers need serious incentives to dip their toes into the increasingly toxic waters of U.S. government debt.
