65FINANCE
⚡ Markets: Direct verbal intervention in the yen by the US Treasury Secretary increases volatility in USD/JPY. The underwhelming bond buyback signals that Treasury may struggle to control rising long-term interest rates, which is negative for bonds (yields up) and growth stocks.USDJPYUS 10YTLTQQQ
U.S. Treasury Secretary Scott Bessent issued a direct warning to currency traders betting against the Japanese yen, stating, "I am the house now." Concurrently, the Treasury announced an increased $6 billion bond buyback plan to contain rising yields, but the move was largely seen as insufficient by markets, which continued to sell off.
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