The Bond Market's Reality Check for Trump's Treasury Secretary The bond market is not a playground for politicians, and Scott Bessent, Donald Trump's Treasury Secretary, would do well to remember this.
In recent weeks, Bessent has touted his role as "America's top bond salesman," claiming credit for the US government's efforts to buy back bonds and keep yields low. However, this narrative is starting to unravel.
The bond market reflects economic fundamentals, and the numbers don't lie. The yield on 10 year Treasury bonds has jumped from 4. 79% to 4. 85%, with two year yields rising from 3. 38% to 4. 43%.