Traders Ignore Bessent's Warnings as He Fights Rising Treasury Yields, Oil and a Weaker Yen
Updated
Updated · Bloomberg · Sep 9
Traders Ignore Bessent's Warnings as He Fights Rising Treasury Yields, Oil and a Weaker Yen
3 articles · Updated · Bloomberg · Sep 9
Summary
Scott Bessent’s repeated “bet against me” warnings have failed to deter traders from pushing up oil, weakening the yen and, most critically, driving US Treasury yields higher.
Bessent argues those positions are misguided because, as Treasury secretary, he says he has policy information investors lack and is taking the other side of the trades.
His latest challenge builds on remarks this week urging speculators not to bet against the yen, after he touted his influence over policy and market operations.
The standoff underscores a broader test of whether official jawboning and Treasury actions can restrain markets as Washington tries to manage borrowing costs.