What Bessent is now saying after bond yields didn’t stop rising on ‘I am the house’ remark
In a televisxed interview with Axios, Treasury Secretary Bessent defended his department’s record in the bond market and walked back his “I am the house” declaration from a month ago
Treasury Secretary Bessent's recent comments on the bond market have sparked attention, particularly after his "I am the house" remark failed to stem the rise in bond yields. At the time, his statement was seen as an attempt to assert the government's influence over market dynamics, but it appears to have had little lasting impact.
In his interview with Axios, Bessent took a more measured tone, defending his department's record in the bond market while also walking back his previous declaration. This shift in rhetoric may be seen as an acknowledgement that the Treasury's influence over market rates is limited, and that other factors such as economic data and global events are driving the current rise in yields.
Looking ahead, market participants will be watching to see how the Treasury department responds to ongoing market volatility, and whether Bessent's more conciliatory tone is reflected in future policy actions. Key events to watch include upcoming auctions of government debt and any further comments from Treasury officials on their strategy for managing the bond market.
Originally reported by marketwatch.com. BondNews adds analysis for finance & markets readers.