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The Guardian - UK
The Guardian - UK
Business
Lauren Aratani

Bond market rebuffs US treasury’s plan to buy back $6bn in government debt

Scott Bessent United States US Federal Reserve Kevin Warsh
An older man in suit speaks in front of US flags.
Even after Scott Bessent announced the operation would target $6bn worth of government bonds, yields on Wednesday continued to rise. Photograph: Chip Somodevilla/Getty Images

The US treasury moved to cut the cost of borrowing on Wednesday only to be swiftly rebuffed by the bond market.

Scott Bessent, the treasury secretary, announced the US would buy back $6bn worth of government debt – treasuries – in an effort to alleviate a selloff in the US bond market that has put pressure on interest rates.

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