Bessent Bond Buyback Boost Fades as Treasury Yields Rebound

U.S. Treasury Secretary Scott Bessent told CNBC that long-dated bond buybacks could expand beyond an initial $4 billion because current yields do not reflect fundamentals and liquidity, particularly in the 30-year sector, is weak. The support steadied markets for only a day: the 10-year yield moved back toward 4.70% and the 30-year approached 5.25%, while investors questioned whether limited purchases could offset roughly $40 trillion of federal debt and annual interest costs nearing $1.2 trillion. U.S. equities fell, but Bitcoin climbed above $74,000 and gained roughly 17% as Washington's pro-crypto stance and a break above its 200-day moving average attracted demand; Solana rose nearly 20% last week to $91 before settling near $89, with the Treasury move described as supporting liquidity and investor confidence.

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