The market for U.S. Treasuries has shown troubling signs lately, and rising yields are a clue that conditions are more dire than they appear, according to Robin Brooks, a senior fellow at the Brookings Institution.
In a Substack post on Tuesday, he said U.S. policy is now focused on preventing long-term borrowing costs from shooting higher and pointed to Treasury Secretary Scott Bessent’s efforts to double debt buybacks as well as Fed Chair Kevin Warsh’s Jackson Hole speech that reassured markets on his inflation-fighting credibility.
