Trump says he did not direct Bessent to intervene in bond market

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Bessent said on Thursday the government could further increase its Treasury repurchases after a surprise announcement on Wednesday that it would spend double the expected amount on bond buybacks.

"No, not at all," Trump told reporters on Friday when asked if he directed Bessent to intervene in the bond market.

"He's a very capable man. He wanted to do it. He's very good at it," Trump said. "He did that, yeah."

Bessent is a former hedge fund manager with extensive experience in sovereign debt and currency markets.

Long-term Treasury yields recently spiked on concerns about the U.S. government's rising debt, inflation that remains stubbornly above the Fed's 2% target and the implications for investment flows.

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