Bessent’s Treasury buy-back ‘success’ draws expansion warnings
BMO Treasury trading head warns of “overarching presence” as Treasury scales up programme
US Treasury Secretary Scott Bessent has hailed the Treasury buy-back programme ‘a success’, with $239 billion of debt repurchased to date, though some caution against a dramatic expansion of the programme, which could threaten the ability of primary dealers to intermediate during times of stress.
“While the programme has been a success so far, we continue to look for ways to improve its efficacy,”
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