The U.S. Treasury attempted to stabilize rising bond yields by announcing plans to repurchase billions in government debt, a move aimed at easing market pressure on interest rates. The decision came as yields climbed to levels not seen since the 2008 financial crisis, signaling growing concerns over borrowing costs. However, the bond market quickly rejected the intervention, leaving uncertainty over whether the measure will ease tensions. The latest developments highlight ongoing volatility in financial markets amid shifting economic conditions.
Scott Bessent made announcement on Wednesday as bond yields rose to highest point since 2008 financial crisisUS politics live – latest updatesThe US treasury moved to cut the cost of borrowing on Wednesday only to be swiftly rebuffed by the bond market.Scott Bessent, the treasury secretary, announced the US would buy back $6bn worth of government debt – treasuries – in an effort to alleviate a selloff in the US bond market that has put pressure on interest rates. Continue reading...
