FX/Bonds
US Treasury Secretary Bessent on buybacks, says off-the-run securities are less liquid and make a market buying older bonds
StockNow breaking-news AI analysis
Treasury Secretary Bessent defended Treasury buybacks, dismissed US credit fears by citing Treasury demand over Bunds, and stated that housing markets need increased supply despite higher rates.
News detail
'Fever' was building in bond market pre-buyback news. Cannot change bond equilibrium price. Rejects idea that investors are scared about US credit. If people were worried they'd buy Bunds vs. Treasuries. Seeing the opposite of buying Bunds vs. US. Higher interest rates have not pulled down house prices. Got to get more supply going in the housing market.
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