'I am the house now': U.S. Treasury Secretary Scott Bessent Dares Investors to Short the Yen, as the Treasury Announces a Longer-Dated Bond Repurchase Up to $6 Billion
The U.S. Treasury Department continues to orchestrate moves to suppress bond yields.
Overview
In recent months, U.S. Treasury Secretary Scott Bessent has not been afraid to intervene in the bond or foreign exchange markets.
In early August, the Treasury executed a coordinated purchase of Japanese yen with Japan's Ministry of Finance to strengthen the yen, which had been losing ground to the U.S. dollar.
Details
The Treasury also plans to repurchase as much as $6 billion of longer-dated Treasuries at its next operation on Sept. 10, triple the normal amount, in an attempt to curb Treasury yields. While the moves have received their fair share of criticism, Bessent seems to have no plans to back down.
Source
Originally published at www.fool.com.
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