12 days ago
"I am the house now," Treasury Secretary Scott Bessent told traders last week, as he defended the administration's increasingly interventionist approach to the bond market. He added that he had "asymmetric information" about what policymakers would do next and dared investors: "bet against me if you want."
On Wednesday, Federal Reserve chair Kevin Warsh might effectively take the other side of the bet.
It's been a hot American summer. Oil is hot, hovering around $110 a barrel. Bond yields are hot, too: the 10-year Treasury yield has pushed above 5%, around its highest level since 2007. Credit markets are running hot as well: U.S.-dollar debt issuance to finance AI and data-center development reached $308 billion through July. And all that borrowing is competing with U.S. national debt, which crossed $40 trillion less than a month ago. Stocks, despite a rough few days, are still up roughly 11% this year. Inflation, meanwhile, remains above 3%.
Put all that heat together, and the Federal Reserve is staring down a question it hasn't seriously confronted in three years: Is the U.S. economy actually overheating? Markets are betting the Fed thinks the answer is at least "maybe." Traders have priced a quarter-point hike Wednesday with near certainty.
But whether Wednesday amounts to a one-time course correction or the beginning of a new tightening cycle depends on what, exactly, is making the American economy hot. The last time the Fed began raising rates, in March 2022, Jerome Powell's Fed ultimately raised its benchmark rate by 525 basis points over 16 months.
Mohamed El-Erian, Wharton professor of practice and chief economic adviser at Allianz, parsed the current fervor and anxiety into four questions on X Tuesday: whether oil-supply disruptions persist, with China potentially acting as a "swing consumer"; whether Treasury Secretary Scott Bessent intervenes again to influence long-end yields; whether this week's hike proves "one and done" or the beginning of a cycle; and how markets balance AI's enormous promise against its enormous risks.
#secretary #federal #american
On Wednesday, Federal Reserve chair Kevin Warsh might effectively take the other side of the bet.
It's been a hot American summer. Oil is hot, hovering around $110 a barrel. Bond yields are hot, too: the 10-year Treasury yield has pushed above 5%, around its highest level since 2007. Credit markets are running hot as well: U.S.-dollar debt issuance to finance AI and data-center development reached $308 billion through July. And all that borrowing is competing with U.S. national debt, which crossed $40 trillion less than a month ago. Stocks, despite a rough few days, are still up roughly 11% this year. Inflation, meanwhile, remains above 3%.
Put all that heat together, and the Federal Reserve is staring down a question it hasn't seriously confronted in three years: Is the U.S. economy actually overheating? Markets are betting the Fed thinks the answer is at least "maybe." Traders have priced a quarter-point hike Wednesday with near certainty.
But whether Wednesday amounts to a one-time course correction or the beginning of a new tightening cycle depends on what, exactly, is making the American economy hot. The last time the Fed began raising rates, in March 2022, Jerome Powell's Fed ultimately raised its benchmark rate by 525 basis points over 16 months.
Mohamed El-Erian, Wharton professor of practice and chief economic adviser at Allianz, parsed the current fervor and anxiety into four questions on X Tuesday: whether oil-supply disruptions persist, with China potentially acting as a "swing consumer"; whether Treasury Secretary Scott Bessent intervenes again to influence long-end yields; whether this week's hike proves "one and done" or the beginning of a cycle; and how markets balance AI's enormous promise against its enormous risks.
#secretary #federal #american
12 days ago
By Michael S. Derby
Sept 16 (Reuters) - Surging government bond yields are raising credit costs across the U.S. economy and could factor into Federal Reserve monetary policy deliberations, but ***** ysts see the central bank resisting any explicit call from the Trump administration to bail out the market.
The focus on the Fed's possible involvement comes as Treasury Secretary Scott Bessent has taken an unusually activist role in trying to tamp down rising yields he considers to be misaligned with the U.S. economic outlook.
Bessent's campaign, which saw the expansion of a key debt buyback operation last week, is foundering, as the 10-year Treasury note rose above 5% to its highest since 2007. He shrugged the move off as owing to "global issues" on Tuesday as he arrived for a congressional hearing.
Treasury's bond market travails are raising questions whether the Fed might be requested to buy government debt to reduce supply, which could cap or lower yields, in turn easing government and private sector borrowing costs.
#government #treasury #bond #debt
Sept 16 (Reuters) - Surging government bond yields are raising credit costs across the U.S. economy and could factor into Federal Reserve monetary policy deliberations, but ***** ysts see the central bank resisting any explicit call from the Trump administration to bail out the market.
The focus on the Fed's possible involvement comes as Treasury Secretary Scott Bessent has taken an unusually activist role in trying to tamp down rising yields he considers to be misaligned with the U.S. economic outlook.
Bessent's campaign, which saw the expansion of a key debt buyback operation last week, is foundering, as the 10-year Treasury note rose above 5% to its highest since 2007. He shrugged the move off as owing to "global issues" on Tuesday as he arrived for a congressional hearing.
Treasury's bond market travails are raising questions whether the Fed might be requested to buy government debt to reduce supply, which could cap or lower yields, in turn easing government and private sector borrowing costs.
#government #treasury #bond #debt
13 days ago
By Michael S. Derby
Sept 16 (Reuters) - Surging government bond yields are raising credit costs across the U.S. economy and could factor into Federal Reserve monetary policy deliberations, but **** ysts see the central bank resisting any explicit call from the Trump administration to bail out the market.
The focus on the Fed's possible involvement comes as Treasury Secretary Scott Bessent has taken an unusually activist role in trying to tamp down rising yields he considers to be misaligned with the U.S. economic outlook.
Bessent's campaign, which saw the expansion of a key debt buyback operation last week, is foundering, as the 10-year Treasury note rose above 5% to its highest since 2007. He shrugged the move off as owing to "global issues" on Tuesday as he arrived for a congressional hearing.
Treasury's bond market travails are raising questions whether the Fed might be requested to buy government debt to reduce supply, which could cap or lower yields, in turn easing government and private sector borrowing costs.
#costs
Sept 16 (Reuters) - Surging government bond yields are raising credit costs across the U.S. economy and could factor into Federal Reserve monetary policy deliberations, but **** ysts see the central bank resisting any explicit call from the Trump administration to bail out the market.
The focus on the Fed's possible involvement comes as Treasury Secretary Scott Bessent has taken an unusually activist role in trying to tamp down rising yields he considers to be misaligned with the U.S. economic outlook.
Bessent's campaign, which saw the expansion of a key debt buyback operation last week, is foundering, as the 10-year Treasury note rose above 5% to its highest since 2007. He shrugged the move off as owing to "global issues" on Tuesday as he arrived for a congressional hearing.
Treasury's bond market travails are raising questions whether the Fed might be requested to buy government debt to reduce supply, which could cap or lower yields, in turn easing government and private sector borrowing costs.
#costs
15 days ago
Ron Paul is urging Americans to swap cash for gold coins.
In a recent interview with Kitco News, the former U.S. representative had some choice words about Treasury Secretary Scott Bessent's handling of the current bond crisis, which he sees as a reason everyone should stock up on gold ASAP.
Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 — 6 ways to build wealth like a landlord without actually being one
Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake. Here's what it is and 3 simple steps to fix it ASAP
The tax breaks in Trump's 'big beautiful bill' expire after 2028. Here are 4 moves to make before the window closes
#scott
In a recent interview with Kitco News, the former U.S. representative had some choice words about Treasury Secretary Scott Bessent's handling of the current bond crisis, which he sees as a reason everyone should stock up on gold ASAP.
Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 — 6 ways to build wealth like a landlord without actually being one
Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake. Here's what it is and 3 simple steps to fix it ASAP
The tax breaks in Trump's 'big beautiful bill' expire after 2028. Here are 4 moves to make before the window closes
#scott
15 days ago
Sarah Pidgeon, who is nominated for Outstanding Lead Actress in a Limited or Anthology Series or Movie for Love Story: John F. Kennedy Jr. & Carolyn Bessette at the Emmys this evening, attended the BAFTA TV Tea Party held at The Maybourne Beverly Hills on Sunday.
Christopher Polk/Deadline via Getty Images
If you were worried that Sarah's awards season run was going to be a succession of black dresses, fear not, because she switched gears in a Givenchy Pre-Fall 2026 oxblood leather dress.
There is considerably more going on here than we've seen from Sarah on the red carpet recently. The folded, asymmetric neckline gives the leather some shape and interest, while the oxblood colour is a welcome change of pace.
For me, this is the kind of look that makes Sarah's style more interesting. The black dresses have served her well and become something of a signature, but I'm hoping this is an indication of what she could give us as awards season gathers pace.
#sarah #season #leather
Christopher Polk/Deadline via Getty Images
If you were worried that Sarah's awards season run was going to be a succession of black dresses, fear not, because she switched gears in a Givenchy Pre-Fall 2026 oxblood leather dress.
There is considerably more going on here than we've seen from Sarah on the red carpet recently. The folded, asymmetric neckline gives the leather some shape and interest, while the oxblood colour is a welcome change of pace.
For me, this is the kind of look that makes Sarah's style more interesting. The black dresses have served her well and become something of a signature, but I'm hoping this is an indication of what she could give us as awards season gathers pace.
#sarah #season #leather
17 days ago
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The Treasury Department's $6 billion bond buyback, an effort to stem rising yields, fell far short of expectations Thursday. The repurchase of government debt led to Treasury yields continuing to climb, with the 10-year note topping a three-year high. Potential home buyers and refinancers hoping for some mortgage rate relief instead saw rates creep toward, and in some reports, top 7%.
Yields were mixed Friday, with the 10-year Treasury remaining just below 5%.
In an interview Thursday evening with conservative strategist Steve Bannon on "War Room," Treasury Secretary Scott Bessent disputed the talk that the buyback program failed.
"This whole nonsense today that our operation didn't work — well, our operation didn't work, because we only had $10 billion of offers for our buyback program," Bessent said. "Normally, we get $20 billion, and we only buy the bonds back cheap. People seem to want to keep their long-term bonds, because we only had half as many offers. So, it's a bunch of noise, and in my career, I made money ignoring the noise."
#yields #offers #year
The Treasury Department's $6 billion bond buyback, an effort to stem rising yields, fell far short of expectations Thursday. The repurchase of government debt led to Treasury yields continuing to climb, with the 10-year note topping a three-year high. Potential home buyers and refinancers hoping for some mortgage rate relief instead saw rates creep toward, and in some reports, top 7%.
Yields were mixed Friday, with the 10-year Treasury remaining just below 5%.
In an interview Thursday evening with conservative strategist Steve Bannon on "War Room," Treasury Secretary Scott Bessent disputed the talk that the buyback program failed.
"This whole nonsense today that our operation didn't work — well, our operation didn't work, because we only had $10 billion of offers for our buyback program," Bessent said. "Normally, we get $20 billion, and we only buy the bonds back cheap. People seem to want to keep their long-term bonds, because we only had half as many offers. So, it's a bunch of noise, and in my career, I made money ignoring the noise."
#yields #offers #year
18 days ago
Horizon Technology Finance Corp., an affiliate of Monroe Capital, on September 10 said that the RoHo Capital Opportunity Fund LLC, a joint venture formed by Horizon and CR Financial Holdings, Inc., the holding company for Roth Capital Partners, LLC, has provided a $20-million senior credit facility to NeoVolta, Inc., with the ability to increase the facility to $30 million upon mutual agreement. An initial $20 million was funded at closing to support NeoVolta's continued growth.NeoVolta is an energy technology company focused on developing and manufacturing domestic battery energy storage systems (BESS). Together with its joint venture partner LONGi, NeoVolta is developing a 210,600-square-foot manufacturing facility in Pendergrass, Georgia, to produce BESS systems designed to meet U.S. domestic content and supply-chain requirements. The facility is expected to have an initial annual production capacity of up to 2 GWh, with the potential to scale to 8 GWh over time."Providing growth capital to innovative companies operating in attractive, high-growth markets is a core focus of RoHo's investment strategy," said Paul Seitz, chief investment officer of Horizon. "Formed by Horizon and Roth Capital, RoHo pairs Horizon's venture lending and structuring expertise with Roth's deep public markets relationships to deliver flexible growth capital to small- and micro-cap public companies. We are pleased to support NeoVolta's growth plans with a tailored financing solution and look forward to continuing to deploy capital through RoHo in support of innovative public companies pursuing significant market opportunities.""Horizon and Roth Capital bring valuable experience and a collaborative approach as we advance NeoVolta's domestic battery energy storage systems manufacturing platform," said Ardes Johnson, CEO of NeoVolta. "As we ramp our Georgia facility and pursue larger commercial and utility-scale opportunities, this relationship supports our ability to execute on our long-term growth strategy."Horizon Technology Finance Corp. is a specialty finance company that provides capital in the form of secured loans to venture capital and private equity-backed companies and publicly traded companies in the technology, life science, healthcare information and services, and sustainability industries. The investment objective of Horizon is to maximize its investment portfolio's return by generating current income from the debt investments it makes and capital appreciation from the warrants it receives when making such debt investments. Horizon is headquartered in Farmington, Connecticut, with a regional office in Pleasanton, California, and investment professionals located throughout the U.S.Monroe Capital is a premier ****** et management firm specializing in private credit markets across various strategies, including direct lending, technology finance, venture debt, opportunistic, structured credit, real estate and equity.CR Financial Holdings, Inc., is a private hol
18 days ago
By Mike Dolan
Sept 10 (Reuters) - Energy and bond markets are on edge once again after U.S. President Donald Trump said the Iran war would not end until after November's midterm elections. That came amid the most intense attacks on Gulf shipping in the conflict so far.
Meanwhile, markets await a likely European Central Bank interest rate rise and the first of the week's U.S. inflation updates on Thursday, as Treasury Secretary Scott Bessent's bond buyback salvo appeared to flop after details of the operation disappointed.
Crude oil closed at its highest level since late May above $100 per barrel on Wednesday, and 10-year Treasury yields hit their highest in three years, fast homing in on the 5% milestone.
That came after a wave of ***** -for-tat attacks on oil tankers in the Gulf, the biggest since the Iran war started six months ago. Meantime, a planned $6 billion buyback of longer-dated bonds on Thursday disappointed some investors who had wanted more.
#thursday #attacks #buyback
Sept 10 (Reuters) - Energy and bond markets are on edge once again after U.S. President Donald Trump said the Iran war would not end until after November's midterm elections. That came amid the most intense attacks on Gulf shipping in the conflict so far.
Meanwhile, markets await a likely European Central Bank interest rate rise and the first of the week's U.S. inflation updates on Thursday, as Treasury Secretary Scott Bessent's bond buyback salvo appeared to flop after details of the operation disappointed.
Crude oil closed at its highest level since late May above $100 per barrel on Wednesday, and 10-year Treasury yields hit their highest in three years, fast homing in on the 5% milestone.
That came after a wave of ***** -for-tat attacks on oil tankers in the Gulf, the biggest since the Iran war started six months ago. Meantime, a planned $6 billion buyback of longer-dated bonds on Thursday disappointed some investors who had wanted more.
#thursday #attacks #buyback
18 days ago
Carole Radziwill is opening up about a famous family heirloom that came with an unexpected story.
The What Remains author, 63, shared the story during an appearance on Haley Sacks' Financial Tea podcast, on Thursday, September 10. "I did inherit Jackie Kennedy's Cartier watch. I ended up selling it at auction," Carole said
After Sacks suggested the watch was "cursed," Carole explained, "There was something about that watch that linked all of us — Jackie Kennedy in the '60s, me in the '90s, and then my best friend in the 2010s — and all three were widowed in their 30s."
Carole was married to Anthony Radziwill, Kennedy Onassis' nephew and John F. Kennedy Jr.'s first cousin, from 1994 until his death from cancer in August 1999. JFK Jr. and his wife, Carolyn Bessette, died in a plane crash the previous month.
During her appearance on Financial Tea, the Real Housewives of New York City star admitted she eventually decided to auction the watch at Christie's because she hoped Cartier would buy it back.
#jackie
The What Remains author, 63, shared the story during an appearance on Haley Sacks' Financial Tea podcast, on Thursday, September 10. "I did inherit Jackie Kennedy's Cartier watch. I ended up selling it at auction," Carole said
After Sacks suggested the watch was "cursed," Carole explained, "There was something about that watch that linked all of us — Jackie Kennedy in the '60s, me in the '90s, and then my best friend in the 2010s — and all three were widowed in their 30s."
Carole was married to Anthony Radziwill, Kennedy Onassis' nephew and John F. Kennedy Jr.'s first cousin, from 1994 until his death from cancer in August 1999. JFK Jr. and his wife, Carolyn Bessette, died in a plane crash the previous month.
During her appearance on Financial Tea, the Real Housewives of New York City star admitted she eventually decided to auction the watch at Christie's because she hoped Cartier would buy it back.
#jackie
19 days ago
The U.S. Treasury Department said Wednesday that it plans to buy $6 billion of government debt this week as part of an effort to reduce long-term borrowing costs and maintain liquidity in the bond market. The buyback operation, which triples the normal level of $2 billion per week, will continue at a higher level moving forward, Treasury said, with at least $4 billion in debt purchased each week for the next few months, and perhaps longer.
This week's buyback, which is scheduled for Thursday, will focus on 10- and 20-year Treasury bonds. Yields have been rising on those bonds, along with other durations, as investors confront the reality of persistent inflation, massive investment in artificial intelligence and rising government debt levels around the world.
Treasury Secretary Bessent said Tuesday that the buyback operation is intended to reduce the "fever that was building" in the bond markets.
The markets did not respond as hoped. Treasury yields rose after the announcement Wednesday, with the yield on long-duration bonds rising as much as 5 basis points in volatile trading, though yields fell back in later trading.
"It doesn't seem like the patient's feeling much better," Adam Josephson of Sakonnet Research wrote in a note, per Investopedia.
#week #rising #government
This week's buyback, which is scheduled for Thursday, will focus on 10- and 20-year Treasury bonds. Yields have been rising on those bonds, along with other durations, as investors confront the reality of persistent inflation, massive investment in artificial intelligence and rising government debt levels around the world.
Treasury Secretary Bessent said Tuesday that the buyback operation is intended to reduce the "fever that was building" in the bond markets.
The markets did not respond as hoped. Treasury yields rose after the announcement Wednesday, with the yield on long-duration bonds rising as much as 5 basis points in volatile trading, though yields fell back in later trading.
"It doesn't seem like the patient's feeling much better," Adam Josephson of Sakonnet Research wrote in a note, per Investopedia.
#week #rising #government
19 days ago
US stocks fell for a third day in a row on Wednesday as oil prices continued to rise and Treasury yields jumped after Treasury Secretary Scott Bessent revealed new bond buyback plans.
The Dow Jones Industrial Average (^DJI) lost nearly 0.8%, and the Nasdaq Composite (^IXIC) fell 0.6%, extending losses after a downbeat session on Tuesday. The S&P 500 (^GSPC) fell by roughly 0.5%.
The 10-year yield (^TNX) rose 3 basis points to 4.83%, its highest level since October 2023, as the market reacted negatively to Bessent's announcement that the Treasury Department intends to triple its next bond buyback program in an effort to curb rising borrowing costs.
Oil prices reached triple digits for the first time in over a month after fighting between the US and Iran escalated and the US struck five Iranian oil tankers. Brent crude oil futures (BZ=F), the global benchmark, traded at $101 per barrel, while US benchmark WTI crude (CL=F) climbed to $96 per barrel.
Concerns that energy supply disruptions stemming from the war in the Strait of Hormuz will persist fed into bets that the Federal Reserve will raise interest rates next week. Traders now see a 60% chance of a 25 basis point hike this month, according to CME Group, up slightly from the odds a day ago.
#bond #triple
The Dow Jones Industrial Average (^DJI) lost nearly 0.8%, and the Nasdaq Composite (^IXIC) fell 0.6%, extending losses after a downbeat session on Tuesday. The S&P 500 (^GSPC) fell by roughly 0.5%.
The 10-year yield (^TNX) rose 3 basis points to 4.83%, its highest level since October 2023, as the market reacted negatively to Bessent's announcement that the Treasury Department intends to triple its next bond buyback program in an effort to curb rising borrowing costs.
Oil prices reached triple digits for the first time in over a month after fighting between the US and Iran escalated and the US struck five Iranian oil tankers. Brent crude oil futures (BZ=F), the global benchmark, traded at $101 per barrel, while US benchmark WTI crude (CL=F) climbed to $96 per barrel.
Concerns that energy supply disruptions stemming from the war in the Strait of Hormuz will persist fed into bets that the Federal Reserve will raise interest rates next week. Traders now see a 60% chance of a 25 basis point hike this month, according to CME Group, up slightly from the odds a day ago.
#bond #triple
19 days ago
The dollar index (DXY00) recovered from a 2.5-week low on Wednesday and finished up by +0.06%. The dollar found support on Wednesday after WTI crude oil surged +3 % to a 3.25-month high, boosting inflation expectations and potentially persuading the Fed to tighten monetary policy. Also, short covering emerged in the dollar on Wednesday after the US Treasury announced it would purchase $6 billion of long-term US government debt securities on Thursday, below expectations of $10 billion. In addition, Wednesday's increase in the 10-year T-note yield to a 2.75-year high of 4.85% has strengthened the dollar's interest rate differentials.
The dollar initially moved lower on Wednesday amid strength in the yen after US Treasury Secretary Bessent challenged traders to test his resolve on strengthening the yen.
Dollar Slips on **** anese Yen Strength
AT&T Offers $10K Reward for Tips as Cable Theft Soars Alongside Copper Prices
Dollar Slips Before the Treasury's Buyback Operation
#wednesday #treasury #billion #dxy00
The dollar initially moved lower on Wednesday amid strength in the yen after US Treasury Secretary Bessent challenged traders to test his resolve on strengthening the yen.
Dollar Slips on **** anese Yen Strength
AT&T Offers $10K Reward for Tips as Cable Theft Soars Alongside Copper Prices
Dollar Slips Before the Treasury's Buyback Operation
#wednesday #treasury #billion #dxy00
19 days ago
The Treasury Department on Wednesday revealed that it will buy back up as much as $6 billion in longer-dated U.S. debt in an operation this week.
The agency's Bureau of the Fiscal Service announced that it will purchase up to $6 billion in 10-year notes and 20-year bonds in an operation. The securities that will be bought in the operation, which is scheduled to occur from 1:40 p.m. to 2 p.m. ET on Thursday, have maturity dates ranging from February 2037 and August 2046.
The buybacks follow Treasury Secretary Scott Bessent's announcement that Treasury's buyback operations would be at least $4 billion until early November, an increase from the $2 billion that the agency would typically buy back in an operation.
Yields on Treasurys have been elevated in recent years due to stubborn inflation, which has been exacerbated by the Iran war and has caused interest rates to rise further.
Bessent Says Treasury Auctions Will Continue As Usual Despite Expanded Buyback Program
#buyback #back #year #fiscal
The agency's Bureau of the Fiscal Service announced that it will purchase up to $6 billion in 10-year notes and 20-year bonds in an operation. The securities that will be bought in the operation, which is scheduled to occur from 1:40 p.m. to 2 p.m. ET on Thursday, have maturity dates ranging from February 2037 and August 2046.
The buybacks follow Treasury Secretary Scott Bessent's announcement that Treasury's buyback operations would be at least $4 billion until early November, an increase from the $2 billion that the agency would typically buy back in an operation.
Yields on Treasurys have been elevated in recent years due to stubborn inflation, which has been exacerbated by the Iran war and has caused interest rates to rise further.
Bessent Says Treasury Auctions Will Continue As Usual Despite Expanded Buyback Program
#buyback #back #year #fiscal
19 days ago
In recent months, U.S. Treasury Secretary Scott Bessent has not been afraid to intervene in the bond or foreign exchange markets.
In early August, the Treasury executed a coordinated purchase of **** anese yen with **** an's Ministry of Finance to strengthen the yen, which had been losing ground to the U.S. dollar.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
The Treasury also plans to repurchase as much as $6 billion of longer-dated Treasuries at its next operation on Sept. 10, triple the normal amount, in an attempt to curb Treasury yields. While the moves have received their fair share of criticism, Bessent seems to have no plans to back down.
"... I am the house now," said Bessent, during a speech in front of Southern Methodist University's business school on Sept. 8. "So when we intervene with the **** anese yen, I have pretty good insight what the **** anese, what the Bank of **** an is going to do, what **** anese policymakers are going to do. Bet against me if you want."
#flashing #down
In early August, the Treasury executed a coordinated purchase of **** anese yen with **** an's Ministry of Finance to strengthen the yen, which had been losing ground to the U.S. dollar.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
The Treasury also plans to repurchase as much as $6 billion of longer-dated Treasuries at its next operation on Sept. 10, triple the normal amount, in an attempt to curb Treasury yields. While the moves have received their fair share of criticism, Bessent seems to have no plans to back down.
"... I am the house now," said Bessent, during a speech in front of Southern Methodist University's business school on Sept. 8. "So when we intervene with the **** anese yen, I have pretty good insight what the **** anese, what the Bank of **** an is going to do, what **** anese policymakers are going to do. Bet against me if you want."
#flashing #down
19 days ago
American government borrowing costs have risen to a three-year high after a $6bn (£4.4bn) bond market intervention disappointed investors.
The US treasury said on Wednesday it would buy back $6bn in government debt as Scott Bessent, the treasury secretary, tries to suppress high bond yields.
However, the intervention underwhelmed investors and yields rose after the announcement. The interest rate on benchmark 10-year Treasuries rose to 4.85pc, the highest level since late 2023. The cost to borrow over 20 and 30 years also rose sharply.
The jump is a setback for Mr Bessent and Donald Trump, who have both sought to combat a sharp recent rise in US borrowing costs that has put pressure on the White House's economic plans.
It will also likely raise concerns that the global bond sell-off seen last week could reignite.
#bond #costs #year
The US treasury said on Wednesday it would buy back $6bn in government debt as Scott Bessent, the treasury secretary, tries to suppress high bond yields.
However, the intervention underwhelmed investors and yields rose after the announcement. The interest rate on benchmark 10-year Treasuries rose to 4.85pc, the highest level since late 2023. The cost to borrow over 20 and 30 years also rose sharply.
The jump is a setback for Mr Bessent and Donald Trump, who have both sought to combat a sharp recent rise in US borrowing costs that has put pressure on the White House's economic plans.
It will also likely raise concerns that the global bond sell-off seen last week could reignite.
#bond #costs #year
19 days ago
U.S. Dollar Index is losing some ground as traders focus on Treasury's decision to boost bond buybacks to $6 billion. Bessent continues his attempts to put pressure on yields, but they are rising amid rally in the oil markets. Worries about long-term sustainability of U.S. finances also push yields higher.
The yield of 10-year Treasuries climbed towards the 4.85% level, while the yield of 30-year Treasuries tested the psychologically important 5.30% level.
U.S. Dollar Index continues its attempts to settle below the support level at 98.60 – 98.75. In case U.S. Dollar Index manages to settle below the 98.60 level, it will head towards the next support at 97.70 – 97.85. RSI is in the moderate territory, so there is plenty of room to gain additional downside momentum in the near term.
EUR/USD gained some ground as traders prepared for ECB Interest Rate Decision, which will be released tomorrow. ***** ysts expect that ECB will raise the interest rate from 2.4% to 2.65% due to rising oil prices.
The European Central Bank is forced to raise rates as the EU economy will face inflationary pressure due to high energy prices. It remains to be seen whether winter will be cold, but energy prices will likely stay high anyway.
#dollar #treasuries #interest #rate
The yield of 10-year Treasuries climbed towards the 4.85% level, while the yield of 30-year Treasuries tested the psychologically important 5.30% level.
U.S. Dollar Index continues its attempts to settle below the support level at 98.60 – 98.75. In case U.S. Dollar Index manages to settle below the 98.60 level, it will head towards the next support at 97.70 – 97.85. RSI is in the moderate territory, so there is plenty of room to gain additional downside momentum in the near term.
EUR/USD gained some ground as traders prepared for ECB Interest Rate Decision, which will be released tomorrow. ***** ysts expect that ECB will raise the interest rate from 2.4% to 2.65% due to rising oil prices.
The European Central Bank is forced to raise rates as the EU economy will face inflationary pressure due to high energy prices. It remains to be seen whether winter will be cold, but energy prices will likely stay high anyway.
#dollar #treasuries #interest #rate
19 days ago
Ford Motor Company (NYSE: F) stock soared nearly 50% in May, as Wall Street began seeing the legacy automotive company as a hidden-gem infrastructure play as the demand for artificial intelligence (AI) and data center energy explodes. The stock has since given back about half of its May surge, and that gives investors who see long-term growth an opportunity to jump back in at a better price.
Here's why investors should be intrigued.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
In May, the Detroit automaker announced its wholly owned subsidiary, called Ford Energy, which will develop and offer a battery energy storage system (BESS) for utility customers, AI data centers, and other large industrial and commercial customers. Savvy investors may have seen this coming, but for the most part, Ford built the new business behind the scenes, securing supply chains and preparing manufacturing. Ford Energy will manufacture battery cells, **** emble modules and containers, and offer sales and service support, which could be the lucrative part. That's because the automaker's Ford Energy DC block was designed to have a stable and predictable lifetime performance for about two decades.
To help connect the dots for investors wondering, AI data centers run intense workloads that put immense strain on the electrical grid. Ford's BESS give AI data centers security in the event of electrical grid fluctuations or blackouts, as the centers need an uninterrupted power supply. The systems will also provide power during AI workload spikes, charge when electricity is cheap, and discharge when prices peak, ultimately lowering costs and providing downtime protection.
#bess
Here's why investors should be intrigued.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
In May, the Detroit automaker announced its wholly owned subsidiary, called Ford Energy, which will develop and offer a battery energy storage system (BESS) for utility customers, AI data centers, and other large industrial and commercial customers. Savvy investors may have seen this coming, but for the most part, Ford built the new business behind the scenes, securing supply chains and preparing manufacturing. Ford Energy will manufacture battery cells, **** emble modules and containers, and offer sales and service support, which could be the lucrative part. That's because the automaker's Ford Energy DC block was designed to have a stable and predictable lifetime performance for about two decades.
To help connect the dots for investors wondering, AI data centers run intense workloads that put immense strain on the electrical grid. Ford's BESS give AI data centers security in the event of electrical grid fluctuations or blackouts, as the centers need an uninterrupted power supply. The systems will also provide power during AI workload spikes, charge when electricity is cheap, and discharge when prices peak, ultimately lowering costs and providing downtime protection.
#bess
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19 days ago
(Bloomberg) -- The global refining sector's diesel crunch is likely to result in tight supply for the coming months, keeping prices high and weighing on demand, according to ****** ysts and traders.
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#traders #plus #making
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#traders #plus #making
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19 days ago
(Bloomberg) -- Oil traders are growing increasingly cautious about longer-term positions as the wars in Iran and Ukraine cloud the outlook beyond the next few months.
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#ukraine #foldable #plan
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#ukraine #foldable #plan
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23 days ago
President Trump is set to speak on the first night of the Republican National Committee's (RNC) convention in Dallas on Sept. 9.
"The Greatest RALLY of them all," Trump wrote on Truth Social Friday. "I'll be speaking on night one, and hanging around for an earlier closing, and lots of music, on night two!!! See you in Dallas."
Vice President Vance is set to deliver his keynote address on the second and final night of the conference alongside Trump's closing remarks. Treasury Secretary Scott Bessent, Attorney General Todd Blanche and former press secretary Karoline Leavitt are set to deliver more keynote addresses throughout the convention.
Trump had previously said in an August statement, "I will be with you both nights, and rarin' to go. See you in Dallas!"
Speaker Mike Johnson (R-La.), Senate Majority Whip John Barrasso (R-Wyo.) and Texas Attorney General Ken Paxton will be among those in attendance.
#dallas #president #Attorney
"The Greatest RALLY of them all," Trump wrote on Truth Social Friday. "I'll be speaking on night one, and hanging around for an earlier closing, and lots of music, on night two!!! See you in Dallas."
Vice President Vance is set to deliver his keynote address on the second and final night of the conference alongside Trump's closing remarks. Treasury Secretary Scott Bessent, Attorney General Todd Blanche and former press secretary Karoline Leavitt are set to deliver more keynote addresses throughout the convention.
Trump had previously said in an August statement, "I will be with you both nights, and rarin' to go. See you in Dallas!"
Speaker Mike Johnson (R-La.), Senate Majority Whip John Barrasso (R-Wyo.) and Texas Attorney General Ken Paxton will be among those in attendance.
#dallas #president #Attorney
23 days ago
(Bloomberg) -- Treasury Secretary Scott Bessent said oil prices will nosedive to as low as $40 a barrel once the Iran conflict is over, pulling down bond yields that have lately hit the highest levels in years.
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#Apple
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#Apple
23 days ago
When U.S. Treasury Secretary Scott Bessent claimed recently that interest rates have fallen since President Donald Trump's 2025 inauguration, there's some generalization there that needs to be unpacked.
Here's the yield curve on Jan. 20, 2025, Inauguration Day. And the curve as it existed on Aug. 31, 2026.
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#curve
Here's the yield curve on Jan. 20, 2025, Inauguration Day. And the curve as it existed on Aug. 31, 2026.
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#curve
24 days ago
By Anna Szymanski
Sept 4 (Reuters) - From the Editor
Are the vigilantes back? Bond yields spiked across developed markets this week, with many hitting multi-decade highs, as rising deficits, elevated inflation and a surge of AI-driven corporate debt issuance left traders demanding higher compensation for the risk of holding longer-term government debt.
Far from a moral crusade by fixed income investors seeking to influence fiscal policy, this instead looks like a logical response to the economic facts on the ground, including the dawning reality that borrowing rates in many large markets are likely going to be higher for longer.
Over the past week, the benchmark U.S. 10-year Treasury yield surged to roughly 4.80%, hitting its highest point since President Donald Trump returned to the White House early last year. This undid any positive impact from Treasury Secretary Scott Bessent's bond-buying announcement two weeks ago.
#markets #many #hitting #debt
Sept 4 (Reuters) - From the Editor
Are the vigilantes back? Bond yields spiked across developed markets this week, with many hitting multi-decade highs, as rising deficits, elevated inflation and a surge of AI-driven corporate debt issuance left traders demanding higher compensation for the risk of holding longer-term government debt.
Far from a moral crusade by fixed income investors seeking to influence fiscal policy, this instead looks like a logical response to the economic facts on the ground, including the dawning reality that borrowing rates in many large markets are likely going to be higher for longer.
Over the past week, the benchmark U.S. 10-year Treasury yield surged to roughly 4.80%, hitting its highest point since President Donald Trump returned to the White House early last year. This undid any positive impact from Treasury Secretary Scott Bessent's bond-buying announcement two weeks ago.
#markets #many #hitting #debt
25 days ago
OTTAWA, Sept 3 (Reuters) - Canadian Prime Minister Mark Carney said on Thursday his government was ready to sign a trade deal with the U.S. that benefits both countries, adding any agreement would need to have stability and credibility.
"The deal that's possible, that's in the interests of Canadian workers, families and businesses, is also the deal that is in the interests of American families, American businesses, American consumers, and ... we're ready to sit down and strike that deal when the Americans are ready," Carney told reporters in Thunder Bay, Ontario.
Carney dismissed recent comments by U.S. Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent that Canada walked away from a trade deal because of domestic politics, saying in response to a question, "I don't think, with all respect, appointed, unelected cabinet members in the United States are experts on Canadian politics."
Carney suggested there had been a recent softening in the U.S. approach to any trade deal that could spur further discussions.
"There were a few issues that the United States was arguing right up to the last hour," he said, describing it as an "our way or the highway" attitude before talks broke down last month. "Now, they're not," he said. "So all of a sudden, they don't care about Canadian language or culture and those elements. Well, if they didn't care, they shouldn't have kept them in the deal," Carney said. "It's good. We welcome that."
#carney #canadian #ready #interests
"The deal that's possible, that's in the interests of Canadian workers, families and businesses, is also the deal that is in the interests of American families, American businesses, American consumers, and ... we're ready to sit down and strike that deal when the Americans are ready," Carney told reporters in Thunder Bay, Ontario.
Carney dismissed recent comments by U.S. Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent that Canada walked away from a trade deal because of domestic politics, saying in response to a question, "I don't think, with all respect, appointed, unelected cabinet members in the United States are experts on Canadian politics."
Carney suggested there had been a recent softening in the U.S. approach to any trade deal that could spur further discussions.
"There were a few issues that the United States was arguing right up to the last hour," he said, describing it as an "our way or the highway" attitude before talks broke down last month. "Now, they're not," he said. "So all of a sudden, they don't care about Canadian language or culture and those elements. Well, if they didn't care, they shouldn't have kept them in the deal," Carney said. "It's good. We welcome that."
#carney #canadian #ready #interests
25 days ago
The bond market is on shaky ground again. US Treasury Secretary Scott Bessent is trying to keep one of America's biggest foreign debt buyers from making it worse.
Long-term US yields are near multi-decade highs, pushing up mortgage and corporate borrowing costs and threatening stocks. Bessent already doubled long-term Treasury buybacks last month, but the US 30-year yield (^TYX) has climbed back toward its highest level since 2007.
Now another potential pressure point is emerging from ****** an, the largest foreign holder of US government debt, with about $1.1 trillion of Treasurys.
Japan spent decades with interest rates near zero. Now, its 10-year government bond yields around 3% for the first time since 1996. ****** anese savers and institutions can suddenly get paid at home, giving them less reason to send money overseas into Treasurys and other foreign bonds.
That creates one problem for Washington: A weaker yen can prompt ****** an to buy its currency with dollars. Raising those dollars can mean selling Treasurys, putting even more bonds into a market already struggling with high yields.
#yields #treasury #bond #debt
Long-term US yields are near multi-decade highs, pushing up mortgage and corporate borrowing costs and threatening stocks. Bessent already doubled long-term Treasury buybacks last month, but the US 30-year yield (^TYX) has climbed back toward its highest level since 2007.
Now another potential pressure point is emerging from ****** an, the largest foreign holder of US government debt, with about $1.1 trillion of Treasurys.
Japan spent decades with interest rates near zero. Now, its 10-year government bond yields around 3% for the first time since 1996. ****** anese savers and institutions can suddenly get paid at home, giving them less reason to send money overseas into Treasurys and other foreign bonds.
That creates one problem for Washington: A weaker yen can prompt ****** an to buy its currency with dollars. Raising those dollars can mean selling Treasurys, putting even more bonds into a market already struggling with high yields.
#yields #treasury #bond #debt
25 days ago
(Bloomberg) -- Gold held a gain as US President Donald Trump appeared to rule out prolonged military action in the Middle East, easing inflationary concerns driven by a renewed spike in energy prices.
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#bloomberg #Gold #president #middle
26 days ago
President Donald Trump on Thursday spoke out against Fox News' decision to part ways with longtime network star Maria Bartiromo.
Bartiromo was reportedly shown the door after allegedly leaking network discussions about coverage to the Trump White House.
Politics: Scott Bessent Tries To Shame Media At Presser, And It Spectacularly Backfires
"I can't believe Maria Bartiromo is no longer going to have her great show(s) on FoxNews/Business," Trump wrote on Truth Social. "Three different shows, always number one. Maria is a total professional, and a true warrior."
Then, he hit the right-wing network ― which is usually a loyal MAGA ally ― with a veiled warning.
#president #Politics
Bartiromo was reportedly shown the door after allegedly leaking network discussions about coverage to the Trump White House.
Politics: Scott Bessent Tries To Shame Media At Presser, And It Spectacularly Backfires
"I can't believe Maria Bartiromo is no longer going to have her great show(s) on FoxNews/Business," Trump wrote on Truth Social. "Three different shows, always number one. Maria is a total professional, and a true warrior."
Then, he hit the right-wing network ― which is usually a loyal MAGA ally ― with a veiled warning.
#president #Politics
26 days ago
(Bloomberg) -- Treasury Secretary Scott Bessent blasted the US companies ramping up investment in artificial intelligence, faulting them for failing to build ties with communities amid a wave of popular concern over data centers boosting the cost of living.
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#renames
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#renames
26 days ago
October WTI crude oil (CLV26) closed up +0.79 (+0.88%) on Wednesday, and October RBOB gasoline (RBV26) closed down -0.0313 (-1.00%).
Crude oil and gasoline prices settled mixed on Wednesday, with crude oil posting a fresh 6-week high. Crude prices rallied Wednesday as hostilities escalated between the US and Iran, raising concerns about prolonged disruptions to energy flows through the Strait of Hormuz. Crude prices also gained after weekly EIA inventories unexpectedly declined. However, crude gains were limited amid signs of larger crude supplies leaving the Strait of Hormuz, easing supply concerns.
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#prices #hormuz #energy #closed
Crude oil and gasoline prices settled mixed on Wednesday, with crude oil posting a fresh 6-week high. Crude prices rallied Wednesday as hostilities escalated between the US and Iran, raising concerns about prolonged disruptions to energy flows through the Strait of Hormuz. Crude prices also gained after weekly EIA inventories unexpectedly declined. However, crude gains were limited amid signs of larger crude supplies leaving the Strait of Hormuz, easing supply concerns.
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#prices #hormuz #energy #closed
