# Bessent vs the bond market

> The Treasury Secretary is buying bonds and mocking his critics, but yields keep climbing anyway.
- Title: Bessent vs the bond market · Yahoo Finance | Shortify
- Summary: The Treasury Secretary is buying bonds and mocking his critics, but yields keep climbing anyway. You can talk down critics, but you cannot talk down a bond…
- Keywords: treasury, bond market, scott bessent, interest rates, national debt, business, finance, Bessent, bond, market, Yahoo Finance
- Source: Yahoo Finance — https://finance.yahoo.com/economy/policy/articles/scott-bessent-dismisses-bloomberg-terminal-133000792.html
- Published: 2026-09-12T13:30:00+00:00
- Read time: 1 min
- Topics: treasury, bond market, scott bessent, interest rates, national debt, business, finance
## A nickname for the critics
Treasury Secretary Scott Bessent labelled the traders and analysts doubting him "Bloomberg Terminal Bros" on the podcast War Room, and said their unhappiness was their problem.

> If some of the Bloomberg Terminal bros are unhappy with what I'm doing, well, that's too bad
## Yields went the wrong way
The comments landed a day after the ten-year Treasury yield hit 4.83%, its highest since October 2023. By Friday afternoon it was at 4.94%.
## A $5.2 billion buyback
Treasury started buying longer-term bonds to push yields back down, spending $5.2 billion against a self-imposed $6 billion cap. The sell-off barely paused.
## Why yields matter to you
Bond prices and yields move in opposite directions, so rising yields mean traders want more to hold US debt. That feeds into credit cards, auto loans and mortgages.
## Three forces pushing yields up
Analysts point to inflation from the Iran War, the corporate borrowing rush funding the AI buildout, and a national debt pile that keeps growing.
## His case: supply shock
Bessent says demand is fine, citing two strong recent auctions, and frames the pressure as temporary. Treasuries are still the asset investors run to in a crisis.

> We have a supply shock, and we will get to the other side of this
## I am the house now
The former hedge fund manager, famous for his 1992 bet against the Bank of England's defence of the pound, now describes his position with a casino metaphor.

> I have asymmetric information. I am the house now.
## The tiny stick problem
Stanford's Ryan Cummings notes the terminal bros are the ones selling. Paul Krugman says Bessent is waving a "tiny, tiny stick" and burning credibility. Bessent calls it noise.

> All he's doing is further draining his rapidly diminishing reserves of credibility
## Key takeaway

You can talk down critics, but you cannot talk down a bond market that is demanding more to lend you money.