The Treasury secretary dared “Bloomberg terminal bros” to bet against him and they did.
Category: Treasury Department
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Bond Market Rebukes Bessent by Sending Borrowing Costs Ever Higher
The New York Times – Business: -
10-Year Treasury Yield Reaches 5%, Highest Level in Years
The New York Times – Business:One of the world’s most important interest rates hit a level recorded only once since the global financial crisis, as investors continued to rebuff the Trump administration’s efforts to sway the bond market.
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Bessent Takes on the Bond Vigilantes
The New York Times – Business:As a rout in the bond market deepens, the pressure grows on Treasury Secretary Scott Bessent to restore calm.
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A $5,000 ‘Trump Dividend’? The Bond Market May Like a Word.
The New York Times – Business:President Trump’s latest political gambit could cost more than $1 trillion, and further roil a volatile bond market.
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Treasury Plans $6 Billion in Debt Repurchases to Battle Rising Yields
The New York Times – Business:Bond yields rose after the announcement, suggesting investors were underwhelmed by the size of the purchases.
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The Economic Fallout From a Potential Return to $100 Oil
The New York Times – Business:Brent crude, the international benchmark for oil, is spiking again, reviving fears of inflation.
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Bessent Blames Ukraine for High Energy Prices
The New York Times – Business:After meeting with Russia’s finance minister, the Treasury secretary said Ukraine’s attacks on Russian oil infrastructure were contributing to a global energy shock driven mainly by the US war with Iran.
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Trump Administration Renews Push to Strip Schools of Tax-Exempt Status
The New York Times – Business:The Treasury Department released rules that would upend how schools qualify for tax-exempt status, a new front in the president’s campaign against higher education.
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Global Bond Rates Are Rising. What Should You Do Now?
The New York Times – Business:If you own bonds, they may be in a broad fund that hasn’t lost much money. And that fund may do much better in the next several years.
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IRS Audit Revenue Has Plummeted Under Trump, Watchdog Finds
The New York Times – Business:The I.R.S. lost roughly a quarter of its employees since President Trump took office, hampering the agency’s ability to conduct audits.