Treasury Secretary Scott Bessent said he plans to buy back a range of long-term US debt and issue more short-dated securities in an effort to bring Treasury yields closer to what he considers equilibrium levels. He called the approach a "Treasury twist," referencing the Federal Reserve's well-known 1960s plan to reshape the yield structure. Bessent, who came to office criticizing his predecessor's attempt to re-engineer the world's largest bond market, is now pursuing an intervention of his own.