Bond Market Revolt: US Treasury's Defiant Buyback Fails to Calm Global Fears

Scott Bessent announced the US Treasury would double its quarterly buyback of long-term bonds to $4 billion, a drastic move to signal Washington's commitment to stabilising markets. "We're going to increase the size of the buyback," the Treasury secretary told CNBC, insisting the intervention could even exceed the stated figure. The goal: to tamp down a historic sell-off triggered by fear of a $40 trillion national debt and inflation from the Iran war.

Off the...