Not A Whole Lot Bessent Can Really Do: Roth

Stephanie Roth, Chief Economist at Wolfe Research, told Bloomberg that US Treasury yields rose to 19-year highs following the Trump administration's announcement of increased buybacks of longer-dated bonds. The buyback program appeared to have limited effect on market movements. Treasury Secretary Bessent's fiscal policy options are constrained by the scale of government debt, according to Roth.

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