Scott Bessent 'May Have Overplayed His Hand'

Treasury Secretary Scott Bessent stated in an interview that the Treasury market is in "very good shape" following a debt buyback operation on Thursday that pushed yields to multi-year highs. Bond traders have been pushing benchmark Treasury yields toward the 5% level ahead of US inflation data expected to influence Federal Reserve interest-rate decisions the following week. Julien Lafargue, Chief Market Strategist at Barclays Private Bank, said on Bloomberg Radio that Bessent may have overplayed his hand in dismissing market concerns.

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