Treasury Secretary Scott Bessent’s bold move to double bond buybacks to $4 billion per operation aimed to cool long-term yields and ease borrowing costs—but the market shrugged, sending the 10-year Treasury yield back up to 4.69%. While he unveiled a new deficit-reduction strategy—claiming it’ll peak this year due to temporary factors like tariff refunds—experts note Congress holds the real power. Skeptical investors see little impact amid tech giants’ AI-driven debt surge, which is pushing yields higher. Meanwhile, inflation’s stubbornness and the Fed’s uncertain stance are amplifying market nerves. Historically, such interventions offer fleeting relief—not lasting solutions—especially when deeper economic headwinds persist.
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