Bessent: I AM THE HOUSE NOW
Treasury Secretary Scott Bessent has effectively challenged the bond market to a fight, telling traders, “I have asymmetric information. I am the house now,” and that they can “bet against him if they want.” Treasury has expanded its buyback operations for long-term government bonds, increasing purc
Source: Armstrong Economics
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DW NOTE
Bessent is running buybacks on long-dated Treasuries while the Fed is tightening and the deficit sits at $1.9 trillion. That's not asymmetric information — it's asymmetric leverage, and the house is using borrowed chips.