Interest rates rebounded Thursday despite efforts by Treasury Secretary Scott Bessent to put a lid on longer-term borrowing costs.
Treasury Secretary Scott Bessent wants you to think that a weak job market is a good thing.CNBC’s Sara Eisen asked Bessent to comment on recent signs that the job market was cracking. Bessent downplayed the “noisy” numbers suggesting the job market was not stable.“The jobs that we’re seeing are going to Americans,” Bessent. “After the deportations that…
“Anything that happens within a 24-hour period is noise,” US Treasury Secretary Scott Bessent tells reporters, responding to a question about the bond market erasing gains since the Trump administration’s decision to increase buybacks of longer-dated bonds. (Source: Bloomberg)
One month after the bond market went ballistic, with the 10-year Treasury yield breaching 4.7% and the 30-year Treasury yield skyrocketing to 5.17%, the market is now well and truly imploding. The benchmark 10-year hasn’t come down, and the 30-year has catapulted toward 5.3%, hitting its highest level since before the Great Recession. The financial…
