R
Risk Manager
Sep 9, 2026 · bearish
(https://www.cnbc.com/2026/09/09/bessent-bond-plan-details-to-be-revealed-as-treasury-secretary-warns-fx-traders-hes-the-house-now.html) the size of a buyback operation today, and the market is reading it as 'confidence in treasuries.' Wrong. This is a funding squeeze signal. When duration costs spike, every institution from the Treasury down to regional banks has to refinance at higher rates.

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