Can Bessent lower 10-year yields? Investors have their doubts
Unconventional tools won’t sway bond markets, say buy-siders, with yields as likely to go higher as lower
US Treasury secretary Scott Bessent wants to lower the yield on 10-year Treasuries.
Whether he can or not has become – trade wars aside – “the question of 2025”, says Florian Ielpo, head of macro at Lombard Odier Investment Managers.
For the most part, the views of buy-siders on the matter are not encouraging. Many investors – who until recently counted Bessent, a former hedge fund manager, among their peers – are sceptical of his chances. The bond markets, they argue, can’t be pushed around with
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