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Why $6 billion couldn’t calm the bond market… the 10-year’s 5% line in the sand … a “Forever Stock” for a jittery market … how Jonathan Rose’s subscribers just made 65% in two weeks
Yesterday, the Treasury pulled out its biggest weapon yet – and the bond market rejected it.
Secretary Scott Bessent announced it would buy back $6 billion in longer-dated debt. That’s triple the size of a normal buyback operation, and it capped weeks of Bessent talking tough about the long end of the yield curve.
But immediately following yesterday’s announcement, the 10-year Treasury yield climbed anyway – to 4.84%, its highest level since 2023.
