US Treasury Secretary Denies Buybacks Are QE and Challenges Yen Shorts

US Treasury Secretary Scott Bessent stated that the Treasury's expansion of buybacks for 10-20 year Treasury bonds is a term structure adjustment intended to stabilize long-term yields and correct market fervor, rather than quantitative easing (QE). Bessent denied concerns regarding credit quality and asserted that the Treasury maintains an information advantage when intervening in the yen, warning short sellers against betting against the currency.