Scott Bessent fails to break ‘fever’ in US bond market, tell me about this news in (https://www.moneycontrol.com/news/opinion/scott-bessent-fails-to-break-fever-in-us-bond-market-14027839.html)
11-09-2026
The news piece covers the ongoing sell-off in the US government debt market and the reaction to US Treasury Secretary Scott Bessent’s recent interventions.Key details of the story include:
- Surging Treasury Yields: The yield on the benchmark 10-year US Treasury jumped to its highest level in nearly three years, approaching the critical 5% thresholda level viewed on Wall Street as a psychological and financial danger zone that elevates borrowing costs across the wider economy.
- The Buyback Operation: In an effort to calm the market and alleviate pressure, the Treasury Department conducted an operation to buy back $6 billion in government debt.
- Market Disappointment: Investors and market participants deemed the $6 billion operation far too small to break the market’s “fever” or stem the persistent rise in long-term yields. Instead of stabilizing prices, the move was rebuffed by traders, and bond yields continued to climb.
- Underlying Drivers: The sell-off reflects persistent investor anxieties over large federal deficits, sustained debt issuance, and ongoing inflationary pressures, making market participants skeptical that limited Treasury interventions can rein in rising market interest rates without broader fiscal or monetary shifts.