Macro Finance
Bessent’s Bond Maneuvers Giving Global Debasement Trade New Life
Bloomberg Markets·August 21, 2026·1 min read
Scott Bessent's bid to tame US borrowing costs knocked down long-term yields for barely a day. The lasting market signal: the dollar weakened while gold and Bitcoin rallied, reinforcing a debasement trade fueled by swelling US deficits and concerns over US economic policy direction.
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