#美国财政部将回购至多60亿美元美债 US Treasuries plunge! Bessent gets slapped in the face!!

The day before yesterday, Bessent challenged yen shorts, saying that he himself was the market maker and had inside information on the Bank of Japan. Anyone unconvinced who wanted to make a bet by shorting the yen was welcome to come and fight.
Of course, Bessent's purpose in protecting the yen is to protect US Treasuries.
Yesterday, the US Treasury announced that it would buy back up to $6 billion of long-dated Treasuries, exceeding the $4 billion lower bound.
In theory, this should have been good news, and US Treasury yields should have fallen.
But Wall Street showed no respect at all and started dumping immediately.
The 10y US Treasury yield surged 20bp to 4.85%, while the 30y returned to 5.3%. The entire yield curve shifted upward, signaling that rates will be “higher for longer,” while US stocks plunged at the same time.
The reason the market dumped in the opposite direction is very simple:
The $6 billion exceeds the buyback floor, showing that US Treasuries do indeed have problems, but it falls short of the anticipated $10 billion ceiling, showing that the Treasury Department has neither the resolve nor the ability to maintain the credibility of US Treasuries.
A single-minded approach has turned into being blocked at both ends!
Bessent, you must understand this: If you cannot even defend your own home turf, then what is the point of protecting the yen?
Besides, how much can Japan dump in US Treasuries? How much does Wall Street hold?
The average daily trading volume in the US Treasury cash market is approximately $100 billion, while the futures market averages $920 billion, with peaks reaching $1.5 trillion.
The amount of US Treasuries held by various US financial institutions, including ETF funds, commercial banks, insurers, and investment banks, is as high as $12 trillion.
So stop acting as the market maker for the yen and hurry back to shore up your own underwear first.
If you cannot make the real market maker happy, that market maker will use real money to tell you: No matter what, the forces committed to the battle are $12 trillion versus $6 billion—the advantage is mine!
As for the stock market, it is being hit from several directions and is having a very hard time.😣$USDJPY ‌