Druckenmiller Calls Bessent's Long-Bond Buyback Plan a Mistake as Treasury Seeks Lower Yields
Updated
Updated · Bloomberg · Aug 25
Druckenmiller Calls Bessent's Long-Bond Buyback Plan a Mistake as Treasury Seeks Lower Yields
3 articles · Updated · Bloomberg · Aug 25
Summary
Stanley Druckenmiller said Scott Bessent is making a mistake by stepping into the Treasury market through a plan to buy back longer-dated US bonds.
Bessent has recently pledged to increase purchases of long-dated Treasuries, a move widely viewed as an effort to push down yields in the world's benchmark bond market.
The criticism carries added weight because Druckenmiller mentored Bessent early in his hedge fund career, turning the dispute into a notable break between the investor and the Treasury secretary.