Bessent states US Treasury bond repurchases have not yet been launched, with the market casting doubt on inconsistent policy signals.

US Treasury Secretary Scott Bessent gave no additional signals regarding US Treasury operations at the "Economic D-Day" press conference. Earlier, after the 30-year US Treasury yield hit its highest level since 2007, Bessent unexpectedly announced an expansion of long-term Treasury repurchase operations. Under the plan, from September 9 to November 4, the minimum amount per repurchase will be raised from $2 billion to $4 billion. When asked if he would further expand the repurchase scale, Bessent replied: "We haven’t bought a single bond yet; the next operation won’t take place until September 9." Not long ago, he had hinted that the repurchase scale might exceed the newly set minimum, but this latest statement is noticeably more restrained. Analysts noted that Treasury repurchases are essentially a regular, predictable debt management tool, not an emergency measure to address market stress. Earlier, Bessent claimed to have a "full suite of tools" to stabilize the bond market, sparking speculation that the Treasury might reduce long-term Treasury issuance. When asked about whether to scale back long-term Treasury auctions, Bessent said the Treasury would "proceed in line with the regular issuance schedule," hinting that specific arrangements will be revealed in next quarter’s quarterly refinancing announcement.