Bessent says US Treasury repo has not yet started, markets question inconsistent policy signals

TechFlow reports that, according to Jinshi Data, U.S. Treasury Secretary Bessent addressed progress on U.S. Treasury operations during the “Economic D-Day” press conference on August 25. In response to the 30-year U.S. Treasury yield reaching a high since 2007, the Treasury had previously announced an expansion of its long-term Treasury repurchase program. Bessent explicitly stated that no bonds have been purchased thus far, with the first operation scheduled for September 9. The program will run through November 4, and the minimum per-transaction amount has been increased to $4 billion.

This stance marks a clear moderation from earlier remarks hinting that the scale could exceed the lower limit, drawing outside scrutiny over fluctuating policy signals. Analysts point out that the repurchases are essentially a routine debt management tool. Regarding adjustments to long-term bond issuance, the Treasury said it will proceed according to the standard schedule, with specific details to be revealed in the refinancing announcement for the next quarter.