US Treasury Secretary Besonette in hand with a “massive toolbox,” yet is collectively dismissed by Wall Street investment banks, pointing to its operations as treating symptoms but not the root causes. The German Ministry of Finance has also aimed its guns at the White House, further aggravating the situation. Soaring US Treasury yields triggered a chain reaction, but the Treasury Department’s intervention has achieved little effect. As long as Washington does not tackle the stubborn twin problems of the budget deficit and inflation, no measures can meaningfully shake the core drivers behind interest rates.

#美债危机 #财政赤字 #贝森特 #华尔街看衰 #Inflation pressure