US treasury secretary hails government’s buy back of bonds a success
US Treasury Secretary Scott Bessent testified that the government's increased bond buyback program has been a significant success despite the 10-year treasury yield reaching a 19-year high. The rising yields are driven by investor concerns over the war in Iran and its impact on energy prices, which has pushed Brent crude to $108 a barrel. The Federal Reserve is expected to raise interest rates to combat inflation, a move that contrasts with President Trump's demands for lower rates.
- ▪The 10-year treasury yield reached 5.041% on Tuesday, marking the highest level since 2007.
- ▪The US Treasury tripled its bond buyback from $2bn to $6bn in August to attempt to lower yields.
- ▪Brent crude oil prices hit $108 a barrel last week due to the ongoing war in Iran.
- ▪US inflation reached a three-year high of 4.2% in May before decreasing to 3.4% in July and August.
- ▪The Federal Reserve is expected to announce an interest rate hike on Wednesday, the first since July 2023.
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| Original publisher | The Guardian — US |
| Canonical URL | https://www.theguardian.com/business/2026/sep/15/scott-bessent-bonds-buyback |
| Publication time | Tue, 15 Sep 2026 19:50:18 GMT |
| Retrieval time | 2026-09-15T20:06:52.886Z |
| Last seen | 2026-09-15T20:06:52.886Z |
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| Summary source text | contentText |
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| Cluster | rezmuuTeejGY · 1 stories |
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Opening excerpt (first ~120 words) tap to expand
Scott Bessent testifies at a hearing on the state of the international financial system on Capitol Hill in Washington DC, on 15 September 2026. Photograph: Roberto Schmidt/AFP/Getty ImagesView image in fullscreenScott Bessent testifies at a hearing on the state of the international financial system on Capitol Hill in Washington DC, on 15 September 2026. Photograph: Roberto Schmidt/AFP/Getty ImagesUS economyUS treasury secretary hails government’s buy back of bonds a successOn Tuesday, the 10-year treasury rate yield reached a 19-year high at 5.041%, even as investors wary Iran war falloutLauren Aratani in New YorkTue 15 Sep 2026 15.50 EDTLast modified on Tue 15 Sep 2026 15.51 EDTSharePrefer the Guardian on GoogleScott Bessent, the US treasury secretary, claimed the government’s massive…
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