US treasury secretary hails government’s buy back of bonds a success

On Tuesday, the 10-year treasury rate yield reached a 19-year high at 5.041%, even as investors wary Iran war fallout Scott Bessent, the US treasury secretary, claimed the government’s massive buyback of US bonds was a success. The claim came as the 10-year treasury yield reached a 19-year high on Tuesday, increasing pressure on interest rates as the Federal Reserve weighs another hike to see off rising inflation.

Read the original report at The Guardian.