The Business Times
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Bossing the bond market around never works

Despite the US Treasury secretary’s efforts, investors worry something is up

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    • No fewer than three times in three weeks, US Treasury Secretary Scott Bessent has given the message to investors to please stop selling his bonds.
    • No fewer than three times in three weeks, US Treasury Secretary Scott Bessent has given the message to investors to please stop selling his bonds. PHOTO: REUTERS

    Katie Martin

    Published Sun, Aug 23, 2026 · 04:18 PM

    [WASHINGTON] US Treasury Secretary Scott Bessent’s running battle with the bond market is starting to resemble his boss’ war in Iran – started by his own hand, with a tangled set of objectives, an underestimated opponent and an implausible path to victory.

    And like the conflict in the Middle East, we are all going to suffer its effects.

    The latest skirmish came on Wednesday (Aug 19) when, in an unscheduled announcement, Bessent’s US Treasury department announced that it would double the pace at which it buys back its own long-term bonds.

    BondsUS dollarFinancial markets

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