1+ week, 4+ day ago   (216+ words) Treasury Secretary Scott Bessent shocked the bond market on Aug. 19 by doubling planned purchases of long-dated government debt, briefly pushing the 30-year Treasury yield sharply lower. Less than two weeks later, the 30-year yield is back above 5.28%, essentially where it…...

1+ week, 5+ day ago   (530+ words) Kevin Warsh used his first Jackson Hole speech as Federal Reserve chair to deliver a message markets could price immediately: inflation is still too high, financial conditions aren't obviously restrictive and another rate increase remains firmly on the table. The…...

2+ week, 5+ day ago   (277+ words) “This is debt reshuffling, not debt reduction,” Bilello said. His objection goes directly to the tension inside Bessent's intervention. Treasury wants to improve liquidity and ease pressure at the long end of the yield curve without pretending that buying outstanding…...

3+ week, 3+ day ago   (189+ words) That makes the relationship with Federal Reserve Chair Kevin Warsh increasingly awkward. Warsh has argued that higher market rates can do some of the Fed's inflation-fighting work without another increase in the federal funds rate. Bessent is now explicitly trying…...

3+ week, 4+ day ago   (345+ words) Treasury says the larger buybacks are intended to improve liquidity in the 10-to-30-year portion of the market, where investors have been offering unusually large amounts of older securities back to the government. The expanded operations begin Sept. 9 and continue…...

3+ week, 4+ day ago   (217+ words) The numbers aren't subtle. Since 1970, the S&P 500 has returned an average of just 0.58% during midterm years, compared with 9.25% across all years, according to Bank of America. Stocks finished those midterm years higher only 57% of the time, versus 75% for years…...