Scott Bessent made announcement on Wednesday as bond yields rose to highest point since 2008 financial crisis
The US treasury moved to cut the cost of borrowing on Wednesday only to be swiftly rebuffed by the bond market.
Scott Bessent, the treasury secretary, announced the US would buy back $6bn worth of government debt – treasuries – in an effort to alleviate a selloff in the US bond market that has put pressure on interest rates.
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