Bessent Says He, Trump Are Focusing on 10-Year Yields, Not Fed

The bond market is pricing an inflationary macro. As long as inflationary pressures and policy continues, bond yields will remain elevated. The Fed controls short term rates, the bond market long term rates.

Is There an Insanity Premium on Interest Rates? - https://paulkrugman.substack.com/p/is-there-an-insanity-prem... - January 8, 2025

Morning Bid: Bonds flashing red, 'term premium' at 10y high - https://www.reuters.com/markets/us/global-markets-view-usa-2... - January 8, 2025

Term premium: The payoff for investing in longer-term bonds - https://www.marketplace.org/2025/01/08/term-premium-investor... - January 8, 2025

Bond Vigilantes Are Putting Governments on Notice - https://www.bloomberg.com/opinion/articles/2024-12-30/bond-v... | https://archive.today/SrEy4 - December 30, 2024