NewsHK
US borrowing costs have continued climbing against the backdrop of a Treasury intervention that investors warn was too modest to shift the trend.
Scott Bessent, the Treasury secretary, put a $6 billion bond operation into the market. It has not broken what participants are now describing as a fever in the bond market.
The operation was aimed at stemming the recent surge in borrowing costs. The $6 billion deployed by Bessent's Treasury, in their assessment, falls well short of what the current rate environment demands.
A bond market running this kind of fever keeps the discount rate elevated across fixed income.
Keep reading