U.S. Treasury’s bond scheme is not a national debt management tool, say top economists, but it did show Wall Street what makes Scott Bessent flinch
Treasury Secretary Scott Bessent isn’t short of investors keen to rap his knuckles—and his friend and mentor, Stan Druckenmiller, was at the front of the queue. Bessent has been chastised by many for his recent attempt to manage prices in the bond market. As 30-year Treasury yields rose toward a near-20-year high last month, the…