Bond Market Rebuffs US Treasury's Plan to Buy Back $6bn in Debt
Scott Bessent's announcement came as bond yields rose to their highest since the 2008 financial crisis, according to The Guardian.
The US Treasury's move to cut borrowing costs by buying back $6bn worth of government debt was swiftly rebuffed by the bond market, The Guardian reported.
Treasury Secretary Scott Bessent announced the buyback Wednesday in an effort to ease a selloff in the bond market, according to the report, which said yields rose to their highest point since the 2008 financial crisis.
Sources
- Bond market rebuffs US treasury’s plan to buy back $6bn in government debt — The Guardian — World
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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