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Bessent Attributes U.S. Treasury Market Decline to Deleveraging
Bessent Attributes U.S. Treasury Market Decline to Deleveraging
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Scott Bessent, the Treasury Secretary, attributed the recent downturn in the U.S. Treasury market to deleveraging rather than foreign selling. He noted increased foreign demand in 10-year and 30-year Treasury bonds in recent auctions and stated that there was no immediate need for action. Bessent also revealed that the Treasury had tools to mitigate the situation, such as scaling up buybacks if necessary. He dismissed speculations of foreign nations dumping their holdings of U.S. Treasuries and emphasized that the decline was not systemic but mainly a result of deleveraging.
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