macro

Treasury secretary’s $6bn bond operation is insufficient to stem the recent surge in borrowing costs, investors warn

“We have to appreciate that we could be in the midst of a now secular uptrend in bond yields,” says Cameron Dawson, chief investment officer at NewEdge Wealth. She does see “tactical buying opportunities” in US Treasuries and says rising yields will continue to put downward pressure on equity valuat

Higher borrowing costs also threaten the stock rally.

Bond bears are pushing benchmark Treasury yields toward the closely-watched 5% level ahead of US inflation data that stands to determine expectations for a Federal Reserve interest-rate hike next week.

The Fed chair may defy the president’s desire for a rate cut at Wednesday’s meeting

Treasury secretary’s $6bn bond operation is insufficient to stem the recent surge in borrowing costs, investors warn

Bond bears are pushing benchmark Treasury yields toward the closely-watched 5% level ahead of US inflation data that stands to determine expectations for a Federal Reserve interest-rate hike next week. Bloomberg MLIV's David Savage reports. (Source: Bloomberg)

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Treasury Secretary Scott Bessent dismissed any concerns with regard to Thursday’s smaller-than-expected debt buyback operation, and played down concerns about a jump in yields.