Treasury Secretary Besant spent over $10 billion to lower the yield on the 10-year bond.
Posted by The MeidasTouch Podcast, Checked
- Sources
- 4 contradict2 context
- Said
- 1 time·
- Confidence
- 85%
The MeidasTouch PodcastSep 15, 2026
The claim that Bessent spent over $10 billion on the 10-year yield is contradicted by the record: the Treasury buyback was capped at $6 billion, and the operation actually bought only $5.19 billion. The $10 billion figure comes from Rep.
The host relays this claim without endorsing it. It counts as passed on, not against the post.
What was said
… But then I go to the House, where you had Treasury Secretary Besant. He was cross examined by Democratic Congress member Himes. Let's play this clip. Let's spend one minute on your intervention about a week and a half ago. You spent some 10 billion dollars, plus or minus, to try to lower the on the 10-year bond. This price is American mortgages. When you started, the 10-year bond was at 4.8%. Today, it's at a 20-year high of 5.04%. 20 basis point rise. Was your intervention successful, and will there be more? Yes, it was, sir, and the the ten year went up by 20 basis points. …
The MeidasTouch Podcast · · from the transcriptPost →What we found
Contradicts. Politico reports the Treasury announced it would buy back up to $6 billion of bonds, triple its normal operations, to rein in long-term borrowing costs.[2]
Contradicts. Business Times reports that on September 10 the Treasury purchased just $5.19 billion of 10- to 20-year debt, less than the $6 billion maximum announced.[3]
Contradicts. Yahoo Finance reports the buyback was up to $6 billion of long-dated government bonds, and Reuters describes the same expanded buyback program.[1][4]
Context. The $10 billion figure appears only in Rep. Himes's question during the September 15 House hearing; Bessent's reply did not confirm a spending amount, and the sources do not show any $10 billion intervention.[5][6]
Sources
6 sources: 1 fact-checker, 1 tier 2, 4 not rated
- 1Bessent defends Trump economic policies, reveals plans to meet Chinese officialreuters.com · fact-checker · cited for: contradicts
- 2Treasury poised to buy up to $6B in bonds as Bessent ...politico.com · tier 2 · cited for: contradicts
- 3US Treasury yields surge as oil spike, buyback results fuel ...businesstimes.com.sg · not rated · cited for: contradicts
- 4Bessent calls Treasury bond buyback successful, reiterates he has ...finance.yahoo.com · not rated · cited for: contradicts
- 5Bessent calls bond buybacks a success despite climb in yieldsmarketscreener.com · not rated · cited for: context
- 6Do the Twist? Yields Rise on 10-Year Treasuriesyoursurvivalguy.com · not rated · cited for: context
Where this claim was made
Said in 1 published post
Related claims
- The 10-year bond yield rose from 4.8% to 5.04% following the Treasury Secretary's intervention.Mixed
- Scott Bessent is buying up Treasury instruments to push interest rates down.True
- The Treasury Department announced a program to purchase long-term bonds.True
- The Treasury Department's bond buyback program caused long-term interest rates to increase.False
- Scott Bessent is intervening in the bond market.True