Bessent: Treasurys Intervention Was Successful -- WSJ

By Shradha Dinesh

Lawmakers on the House Financial Services Committee pressed Treasury Secretary Scott Bessent in a hearing today on whether his recent intervention in the Treasury bond market was successful.

Bessent, who engineered the Treasury Department's ramped-up buyback plan earlier this month, asserted that his intervention was successful because yields might have climbed higher without it. "The U.S. Treasury market continues to be the best performing market in the developed world, whether it is over one month or whether it's over the period since President Trump came to office," he said.

"I believe that the money that is flowing into American assets reflects a preference away from other global assets.... We do not set the equilibrium price. My job is to make sure that when I believe they have moved too far away to move it back toward equilibrium, and I believe we have the necessary tools."

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September 15, 2026 12:33 ET (16:33 GMT)