Bessent’s ‘Treasury Twist’ Has Wall Street War-Gaming a Shift in Borrowing Strategy

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world US Treasury Secretary Scott Bessent ’s more activist style of managing the nation’s debt has Wall Street war-gaming a potentially bigger shift in the government’s borrowing strategy over the coming months. One radical option would be to cut sales of long-dated bonds , according to Deutsche Bank AG, Morgan Stanley and Citigroup Inc. More likely, the Treasury could signal at its Nov. 4 quarterly refunding that future increases in borrowing will be done via bills and shorter-maturity notes, while further expanding buybacks to ease pressure on long-term yields.

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