Live Roundups Editor's Desk Insights Executive Ops Weather About 🔍
Home › Business & Finance › Bessent’s Bond Maneuvers Giving Global Debasement Trade New Life
Business & Finance

Bessent’s Bond Maneuvers Giving Global Debasement Trade New Life

Bloomberg Markets Friday 21 August 2026, 20:14 UTC By Greg Ritchie, Denitsa Tsekova and Isabelle Lee 1 min read
Key Points

Scott Bessent’s bid to tame US borrowing costs knocked down long-term yields for barely a day. The more lasting market signal: the dollar weakened while gold and Bitcoin rallied, reinforcing a debasement trade fueled by swelling US deficits and concerns over the direction of US economic policy.

Scott Bessent’s bid to tame US borrowing costs knocked down long-term yields for barely a day. The more lasting market signal: the dollar weakened while gold and Bitcoin rallied, reinforcing a debasement trade fueled by swelling US deficits and concerns over the direction of US economic policy.
Bessent (PERSON) Scott Bessent’s (PERSON) US (LOCATION) Bitcoin (ORG)
Originally published by Bloomberg Markets Read original →

Related Stories

Anthony Bourdain, 'A Moveable Feast': Must-Read Books

Scarlet Fu and Tom Keene discuss their must-read book on this week's edition of "Bloomberg Money." They discuss "Kitchen Confidential: Adventures in the Culinary Underbelly" by Anthony Bourdain and "The Greater Journey: Americans in Paris" by David McCullough.

Bloomberg Markets 10m ago

Citadel Offloads Risk From Situational Awareness

Ken Griffin's Citadel has offloaded more than 80% of the aggregate risk associated with the Situational Awareness stock portfolio it acquired from the embattled AI hedge fund. Citadel struck a deal last month to buy stocks from the fund led by Leopold Aschenbrenner. Bloomberg's Hema Parmar reports.

Bloomberg Markets 22m ago

Swonk: Fed Independence, Inflation Key for Jackson Hole

Diane Swonk, KPMG Chief Economist, discusses expectations for the upcoming Federal Reserve speech at the Jackson Hole Economic Symposium. The speech is traditionally technical and focused on internal task forces, but markets are seeking clearer guidance on inflation and monetary policy. She speaks with Romaine Bostick & Sally Bakewell on "The Close."

Bloomberg Technology 24m ago

Goldman's Struyven: Hedge Crude's Swings with Diesel

Daan Struyven, Goldman Sachs Co-Head of Global Commodities Research, discussed the market reaction to potential new US sanctions on Iran during a live financial news segment. He noted that oil prices experienced only a modest increase following the announcement, largely because the existing blockade on Iranian ports and oil exports is already restricting Iranian oil from reaching the market. He speaks with Romaine Bostick & Sally Bakewell on "The Close."

Bloomberg Markets 25m ago