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Treasury Secretary Scott Bessent. Photo: Daniel Heuer/Bloomberg via Getty Images
The Treasury Department intervened in the bond market last week, looking to lower long-term rates by buying back longer-term debt and effectively swapping it for shorter-term debt. There are new hints of how that effort might escalate from here.
Driving the news: CNBC's Steve Liesman reported that the Treasury could use its $950 billion account with the Federal Reserve — essentially the U.S. government's checking account — to fund further repurchases of longer-term bonds.
