US Treasury Secretary Says Treasury Buybacks Are 'Not QE' and Tells Yen Short Sellers 'Come and Bet'

PANews September 9 news, U.S. Treasury Secretary Bessent stated at a Breitbart News event in Washington that the Treasury's expansion of buybacks for 10- to 20-year "old" Treasury bonds aims to stabilize long-term yields and correct "frenzy" in the bond market, rather than being quantitative easing (QE). The market expects the scale of this round of buybacks to be no less than $4 billion, and if it approaches $10 billion, it will set a new benchmark for future operations and may suppress long-end yields. Morgan Stanley said $10 billion is close to the current operational ceiling, while Wrightson ICAP believes $5 billion to $6 billion is a reasonable starting point. Bessent emphasized that the buybacks are a term structure adjustment similar to "Operation Twist" and denied any credit concerns. Meanwhile, he stated that in terms of yen intervention, "I am the dealer," and will use information advantages to counter yen bears.