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Treasury Secretary Scott Bessent on the 8th (local time) rejected the framing that expanded long-dated Treasury buybacks amount to quantitative easing, telling a CGGN Group co-hosted event in Washington DC that he does not think he can change the equilibrium price, while adding that markets are always either moving away from or toward balance. The message matters for the long end: if buybacks are read as debt-management smoothing rather than balance-sheet expansion, term premium compression should be limited, keeping 10-year and 30-year UST yields and the dollar as the primary drivers of risk-asset and BTC beta. Watch the actual buyback sizes and maturity buckets in the next quarterly refunding schedule, plus long-end auction demand, since a larger-than-expected duration takeout would revive the QE-lite trade and support duration-sensitive assets including gold and crypto.
As a Macro signal, watch whether it changes price action, volatility, or flows around BTC, IXIC.
Original Source: 연합인포맥스
This page is market information analysis, not investment advice.
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