Trying to tame inflation AND bond yields WHILE demanding rate cuts, after starting a never ending war and blowing past all spending/debt estimates, is an impossible task.
The next two years are going to be bumpy — and the winner of 2028 is going to have a 12 year mess to clean
Bessent is buying back more bonds in an attempt to suppress yields, but the market is sending yields higher and calling his bluff, forcing him into a corner to buy even more.
Realize where we are.