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Bessent Axing 20-Year Treasury May Send Yields Higher, BNP Warns

Bloomberg Markets Tuesday 06 October 2026, 20:25 UTC By Greg Ritchie 1 min read
Key Points

Bessent Axing 20-Year Treasury May Send Yields Higher, BNP Warns Treasury Secretary Scott Bessent should resist calls to ax the 20-year bond, as doing so could send borrowing costs higher, according to BNP Paribas SA. Bond traders are speculating whether Bessent may further tilt the nation’s borrowing away from long-maturity bonds, where yields are trading near multi-decade highs, and instead toward short-dated debt. Reducing or eliminating issuance of the 20-year bond, which demands a...

Bessent Axing 20-Year Treasury May Send Yields Higher, BNP Warns Treasury Secretary Scott Bessent should resist calls to ax the 20-year bond, as doing so could send borrowing costs higher, according to BNP Paribas SA. Bond traders are speculating whether Bessent may further tilt the nation’s borrowing away from long-maturity bonds, where yields are trading near multi-decade highs, and instead toward short-dated debt. Reducing or eliminating issuance of the 20-year bond, which demands a higher yield than nearby tenors, has emerged as a radical option.
Bessent Axing (ORG) BNP (ORG) Treasury (ORG) Scott Bessent (PERSON) BNP Paribas SA (ORG) Bessent (PERSON)
Originally published by Bloomberg Markets Read original →

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