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Bessent Plan Gains Fall as Yields Rise
U.S. 30-year government bond yields rose to 5.27%, erasing gains made after Treasury Secretary Scott Bissent announced an expansion of the bond buyback program to control borrowing costs. Global markets also saw an increase in 10-year bond yields to around 4.8%, with 2-year bond yields climbing to 4.40%, amid concerns over rising government spending and inflationary pressures. British 30-year bond yields reached their highest levels since 1998, while German yields hit their highest since 2011. Experts confirmed that the buyback plan does not replace structural reforms to interest rates. The expanded purchase operations are expected to begin in September to ease pressures on long-term interest rates, despite continued rising yields in global markets.
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