Bitcoin and gold surge as Bessent’s bond market intervention weighs on dollar - Financial Times
Bitcoin and gold surge as Bessent’s bond market intervention weighs on dollar - Financial Times
Source: Financial Times
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DW NOTE
Bessent's bond intervention is trying to cap yields while the fiscal deficit runs at 6% of GDP and oil supply is contracting by 4%. Gold at $4,677 and Bitcoin rallying aren't betting on currency strength — they're pricing the interval between when the market loses confidence in the intervention and when it fails outright.