Bessent says bond market is strong as 10-year yield hits highest since 2023

  • Bessent said the bond market remains in very good shape after the 10-year yield rose.
  • $5.19 billion Treasury buyback on Sept. 10 fell below the $6 billion maximum.
  • Treasury had raised the long-term buyback cap from $2 billion to at least $4 billion.

U.S. Treasury Secretary Scott Bessent said the bond market remains in very good shape after the 10-year Treasury yield—an indicator of borrowing costs—rose to its highest level since 2023. He also said a $5.19 billion Treasury buyback on Sept. 10 came below the $6 billion maximum because holders of long-dated Treasuries were reluctant to sell. The Treasury had increased the cap for long-term bond buybacks from $2 billion to at least $4 billion per operation, while the market had anticipated an initial purchase of $5 billion to $6 billion.

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Bessent says bond market is strong as 10-year yield hits highest since 2023 - CoinPost Terminal