US Treasury official Bessent said the cap on a single bond buyback could exceed $4bn, partly as a signal that yields do not reflect fundamentals. The Treasury may announce stepped-up fiscal consolidation and Bessent said the deficit has very likely already peaked. He dismissed a $40 trillion debt headline as not especially meaningful and said markets are somewhat overreacting. Any balance-sheet changes would be coordinated with the Federal Reserve, he added, and interest-rate decisions are unrel

US Treasury official Bessent said the cap on a single bond buyback could exceed $4bn, partly as a signal that yields do not reflect fundamentals. The Treasury may announce stepped-up fiscal consolidation and Bessent said the deficit has very likely already peaked. He dismissed a $40 trillion debt headline as not especially meaningful and said markets are somewhat overreacting. Any balance-sheet changes would be coordinated with the Federal Reserve, he added, and interest-rate decisions are unrelated to buyback choices. Market indicators point to lower inflation ahead. A press briefing on Iran-related economic sanctions is scheduled for next Monday.