U.S. President Donald Trump said he did not direct Treasury Secretary Scott Bessent to intervene in the bond market this week, saying Bessent acted on his own authority based on his understanding of the issues. Bessent said the government could further increase Treasury repurchases after announcing that it would spend double the expected amount on bond buybacks. The resulting decline in bond yields had largely unwound by Friday. Long-term Treasury yields had recently risen amid concerns over the U.S. government’s increasing debt, inflation remaining stubbornly above the Fed’s 2% target and the implications for investment flows.