Treasury and Fed Pull Apart
💵 Treasury and Fed Pull Apart
On August 19, Scott Bessent doubled Treasury buybacks to $4 billion a week. The 30-year yield fell about 10 basis points, then reversed. The 10-year reached 4.704% and the 30-year 5.248%.
The pressure is structural: US debt has crossed $40 trillion, the deficit is on pace for $1.9 trillion, and te...