Long-Term Yields Come Down Briefly, but at What Cost

Chart of the Day

Good morning!

Treasury Secretary Scott Bessent on Wednesday tamped down the longer-end of the yield curve, going against the strategy of Federal Reserve Chair Kevin Warsh.

Though it worked out yesterday, my view is that the Bessent put is still going to fail to keep yields down from multidecade highs over the longer term.

The 30-year Treasury yield slipped to 5.194%, noting its biggest one-day decline since October. The 10-year Treasury yield, which sets borrowi...

Chart of the Day

Good morning!

Treasury Secretary Scott Bessent on Wednesday tamped down the longer-end of the yield curve, going against the strategy of Federal Reserve Chair Kevin Warsh.

Though it worked out yesterday, my view is that the Bessent put is still going to fail to keep yields down from multidecade highs over the longer term.

The 30-year Treasury yield slipped to 5.194%, noting its biggest one-day decline since October. The 10-year Treasury yield, which sets borrowi...
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