Treasury Secretary Scott Bessent just dropped a bombshell on CNBC, revealing plans to go even bigger than the already doubled $4 billion in long-term bond buybacks — aiming to “make a market” in underperforming 30-year bonds amid soaring yields. With the national debt now over $40 trillion and the Treasury’s 30-year bond market unusually thin, Bessent’s move signals a coordinated effort to realign prices with economic reality. He’s also teaming up with OMB to push for fiscal consolidation, arguing that global growth is the ultimate fix — while investors grapple with rising U.S. deficits, AI-linked corporate debt, and higher yields from rivals like Japan.
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