Bessent's Bond Buybacks Revive Debasement Trade
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- Fortune criticizes Bessent's Treasury debt buyback scheme as 'playing with fire,' warning it risks triggering a dollar devaluation spiral.
- Bloomberg reports Bessent's bond maneuvers are giving the global 'debasement trade' new life, while Reuters frames the episode as 'so much for the Bessent bid.'
Why it matters: The Trump administration's moves to calm bond markets haven't worked, with Reuters declaring 'so much for the Bessent bid' and Fortune warning of a dollar devaluation spiral. All four outlets covering the story say the Treasury's buyback scheme is failing to achieve its stated goal.
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