{"id":436635,"date":"2026-08-21T03:00:19","date_gmt":"2026-08-20T20:00:19","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/investinglive-americas-news-wrap-bessent-doubles-down-on-buyback-plan-436635\/"},"modified":"2026-08-21T03:00:19","modified_gmt":"2026-08-20T20:00:19","slug":"investinglive-americas-news-wrap-bessent-doubles-down-on-buyback-plan","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/investinglive-americas-news-wrap-bessent-doubles-down-on-buyback-plan-436635\/","title":{"rendered":"investingLive Americas news wrap: Bessent doubles down on buyback plan"},"content":{"rendered":"<div>\n<ul>\n<li><a href=\"https:\/\/investinglive.com\/news\/us-treasury-auctions-off-9-billion-of-30-year-tips-at-2-973-vs-2-991-wi\" rel=\"follow\">US Treasury auctions off $9 billion of 30-year TIPS at 2.973% vs 2.991% WI<\/a><\/li>\n<li><a href=\"https:\/\/investinglive.com\/central-banks\/fed-s-musalem-says-hiking-rates-now-could-save-more-aggressive-action-later\" rel=\"follow\">Fed&#8217;s Musalem says hiking rates now could save more aggressive action later<\/a><\/li>\n<li><a href=\"https:\/\/investinglive.com\/news\/us-treasury-secretary-bessent-says-the-long-dated-bond-buyback-could-be-more-than-4-billion\" rel=\"follow\">US Treasury Secretary Bessent says the long-dated bond buyback could be more than 4 billion<\/a><\/li>\n<li><a href=\"https:\/\/investinglive.com\/news\/us-leading-index-for-july-0-2-vs-0-1-expected\" rel=\"follow\">US leading index for July +0.2% vs +0.1% expected<\/a><\/li>\n<li><a href=\"https:\/\/investinglive.com\/central-banks\/fed-s-daly-doesn-t-see-evidence-calling-for-pre-emptive-rate-hikes-policy-in-good-place\" rel=\"follow\">Fed&#8217;s Daly doesn&#8217;t see evidence calling for pre-emptive rate hikes, policy in good place<\/a><\/li>\n<li><a href=\"https:\/\/investinglive.com\/news\/us-august-philly-fed-business-index-xx-vs-25-0-expected\" rel=\"follow\">US August Philly Fed business index +47.4 vs +25.0 expected<\/a><\/li>\n<li><a href=\"https:\/\/investinglive.com\/news\/canada-july-ppi-xx-vs-0-5-expected\" rel=\"follow\">Canada July PPI +0.6% vs -0.5% expected<\/a><\/li>\n<li><a href=\"https:\/\/investinglive.com\/news\/us-initial-jobless-claims-206k-vs-210k-expected\" rel=\"follow\">US initial jobless claims 206K vs 210K expected<\/a><\/li>\n<\/ul>\n<p class=\"PDq2pG_selectionAnchorContainer\">The US labor market continues to show resilience as initial jobless claims fell to 206K\u00a0beating expectations of 210K and declining from a revised 212K in the prior week. The data reinforced the view that layoffs remain limited despite slower hiring activity, although continuing claims rose to 1799K, suggesting unemployed workers may be taking longer to find new jobs. Overall, the report pointed to a labor market that remains stable rather than one showing signs of deterioration. <\/p>\n<p>In Canada, producer prices surprised to the upside, with July PPI rising 0.2%, more than the 0.1% increase expected. The resumption of the conflict between the US and Iran in July contributed to higher prices for energy and petroleum products.<\/p>\n<p>US manufacturing data beat expectations once again. The Philadelphia Fed Manufacturing Index came in well above forecasts.\u00a0The survey\u2019s indicator for general activity rose to a five-year high. The new orders and shipments indexes moved lower but remained elevated. The employment index rose, continuing to suggest overall gains in employment. Both price indexes declined this month but remained elevated. Most future indicators jumped higher this month, suggesting widespread expectations for overall growth over the next six months.<\/p>\n<p>San Francisco Fed President Mary Daly maintained her usual neutral stance, arguing that policy is currently in a good place and that she sees no evidence supporting pre-emptive rate hikes. Daly downplayed concerns about rising long-term Treasury yields, describing them as a global phenomenon rather than a signal of weakening Fed credibility. While acknowledging inflation remains above target, she indicated recent data have not materially changed her outlook and stressed that the labor market is not currently contributing to inflationary pressures. <\/p>\n<p>St. Louis Fed President Alberto Musalem reiterated his hawkish stance. Musalem argued that underlying inflation remains too high, estimating it in a 2.5%\u20133.0% range, and warned that raising rates now could prevent the need for more aggressive tightening later. He characterized monetary policy and financial conditions as relatively accommodative and suggested the probability of returning inflation to 2% may be lower than desired under current rates. Nevertheless, he declined to prejudge the outcome of the upcoming FOMC meeting.  <\/p>\n<p>US Treasury Secretary Scott Bessent, in an interview with CNBC, said that the Treasury buyback operations could ultimately exceed the recently announced $4 billion level. He emphasized that part of the initiative is intended as a signal to markets that elevated long-term yields do not accurately reflect economic fundamentals.<\/p>\n<p>Bessent argued that markets may have gotten ahead of themselves in pushing yields higher and suggested the administration is increasingly focused on fiscal consolidation. He also reiterated that Treasury would coordinate with the Federal Reserve if balance sheet adjustments became necessary, while stressing that the buyback decision is not driven by interest-rate levels. The comments fuelled speculation that the Treasury is willing to take a more active role in supporting the long end of the bond market, reinforcing the notion of a potential &#8220;Bessent put&#8221; if yields rise excessively.<\/p>\n<\/p>\n<p>                            This article was written by Giuseppe Dellamotta at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>US Treasury auctions off $9 billion of 30-year TIPS at 2.973% vs 2.991% WI Fed&#8217;s Musalem says hiking rates now could save more aggressive action later US Treasury Secretary Bessent says the&hellip;<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-436635","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/436635","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=436635"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/436635\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=436635"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=436635"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=436635"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}