21:59 - 10.08.2026

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August 10, Fineko/abc.az. Wall Street traders and strategists believe US Treasury Secretary Scott Bessent is actively signalling his determination to prevent a further surge in US Treasury yields.

As long-term yields spiked to 19-year highs, the Treasury Department intervened in the currency market to support the Japanese yen for the first time since 1998, mitigating the risk of Japan liquidating its US Treasury holdings to defend its currency.

Additionally, the Treasury subtly revised its quarterly borrowing guidance, paving the way for potential reductions in long-term bond auctions. Bessent also publicly defended Federal Reserve Chair Kevin Warsh’s recent communication strategy.

Priya Misra, portfolio manager at JPMorgan Asset Management, noted that these coordinated steps demonstrate the Treasury’s awareness of bond market friction and its willingness to deploy available policy tools.