Treasury Doubles Debt Buybacks to Steady Bond Market
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- Treasury doubled its debt buybacks as Bessent moved to steady an alarmed bond market grappling with surging yields, prompting the Trump administration to act.
- The dollar slid to three-month lows amid the intervention, with Bloomberg flagging it as the biggest potential loser from Bessent's bond-buying push.
Why it matters: Bessent's doubled buybacks cap US borrowing costs in the short term, but the side effect is a weakening dollar — a tradeoff that makes imports and dollar-denominated debt more expensive for foreign holders and signals rising concern inside the bond market itself.
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