Treasury Secretary Scott Bessent on Monday defended the Trump administration’s recent intervention in the bond market, pushing back on criticism from his investing mentor, billionaire Stanley Druckenmiller. Druckenmiller had criticized in a Wall Street Journal op-ed the Treasury’s decision to more than double the size of its government debt repurchases, calling it a « mistake. » Bessent claimed the U.S. bond market has been the best performing since Trump took office and that U.S. yields have remained flat unlike global markets. The Treasury secretary said his conversation with Druckenmiller went fine while also taking a veiled jab at his mentor. The accelerated debt buyback could exceed the announced $4 billion.
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