🚨 Bessent just reframed the entire Treasury narrative.

Treasury Secretary Scott Bessent says the goal is not to push Treasury prices higher or force yields lower—it's to reduce disorderly, one-way momentum in the bond market.

> “I can’t change the equilibrium price… My job is to slow things down and make sure the market knows it’s not a one-way trip.”

Meanwhile, 10-year Treasury yields climbed above 4.76%, reaching their highest level in the past year—even after the recent debt-management changes. 📈

At the G20, Fed Chair Kevin Warsh added an even bigger macro takeaway:

🔹 The era of secular stagnation is over.

🔹 We’re entering a period of secular growth.

🔹 The old “global savings glut” has reversed into a global investment surge.

What this means: Higher long-end yields may be less about a broken bond market and more about a structural repricing driven by stronger growth, capital investment, and changing global demand for money.

Markets are shifting from asking “How low can rates go?” to “What is the new equilibrium?” 🌍💰

#Bonds #Treasury #YieldCurve #Macro #Investing #FixedIncome #FederalReserve #G20 #Economy #Markets #ScottBessent #KevinWarsh